TITLE

Housing: A national landlord in default

AUTHOR(S)
Loeb, Penny
PUB. DATE
July 1993
SOURCE
U.S. News & World Report;7/5/93, Vol. 115 Issue 1, p40
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Discusses the recent explanation by Henry Cisneros, President Bill Clinton's secretary for Housing and Urban Development (HUD), that defaults on HUD-insured mortgages on apartment buildings had skyrocketed and bad loans could cost taxpayers nearly $12 billion and leave HUD stuck with as many as 75,000 apartments. Reasons mortgage defaults are on the rise; Why the housing agency is to blame for many of its own problems; How Washington adds to problems.
ACCESSION #
9306300037

 

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