Housing: A national landlord in default

Loeb, Penny
July 1993
U.S. News & World Report;7/5/93, Vol. 115 Issue 1, p40
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.


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