HUD discourages foreclosures after Ike

HOUSTON (AP) -- Hurricane Ike may give some homeowners lagging on their mortgage payments a temporary rescue from foreclosure.

Housing Secretary Steven Preston visited Houston on Thursday and urged private lenders to cut some slack to financially strapped homeowners in areas ravaged by Ike along the Texas coast.

Preston says he doesn't want people worrying about foreclosure while being saddled with other costs from Ike.

The Housing Department has already issued a 90-day moratorium on foreclosures of federally insured home mortgages. Officials did not have an immediate number on how many homes could qualify.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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