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Former HUD Chief Weighs In On Foreclosure Crisis

Published February 23, 2009 at 11:00 AM CST

The Obama administration last week pledged to spend $275 billion in hopes of reducing mortgage interest rates and lowering monthly mortgage payments.

Former Housing and Urban Development Secretary Henry Cisneros reacts to the bailout plan and discusses reasons behind current problems faced by the mortgage industry.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

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