MORE FROM THIS ISSUE

• Shelterforce Interview: Sen. Robert Menendez

  In February, on the heels of $25 billion attorneys general mortgage settlement, Sen. Robert Menendez unleashed the Preserving American Homeownership Act, a bill that would help eligible underwater homeowners by creating a program where banks reduce mortgage principal in exchange for a portion of the increased value of the home over time — shared appreciation mortgage. The bill was timely because it mirrored Ocwen Financial’s loan modification program, Shared Appreciation Modification, that creates equity by writing down an underwater borrower’s principal balance to 95 percent LTV. In this interview, Shelterforce talks to Menendez, (D-NJ), who serves as chairman of the Senate Banking Committee’s subcommittee on Housing, Transportation, and Community Development, about this initiative, the ongoing federal response to the housing crisis, the Sustainable Communities Initiative, the Occupy movement, and more.

• Making the Stimulus Work

  Despite great obstacles, nonprofit housing developers, community action agencies, community health centers, and others stepped up and solved problems on the fly to make the stimulus work. Though more stimulus is not forthcoming, there are lessons to be learned for anyone working with government funding.

• Ron Sims: Retiring from HUD, Not from Public Service

  Shelterforce caught up with the HUD deputy secretary on the precipice of retirement, nearly two-and-a-half years after joining the agency. Sims brought to HUD not only his political savvy, but also an unshakable commitment to equity and sustainability. In this exit interview, we talk about his accomplishments at HUD, plans for the future, and what he thinks needs to be done in order to stabilize the housing market.