Despite a dip in foreclosures last month, it appears unlikely that the wave of bad loans that have forced record numbers from their homes will peak any time soon. And despite efforts by lenders, politicians and homeowners to stem the tide, borrowers trying to work out better loan terms and save their homes face a […]

WASHINGTON (AFP) - Eleven large US mortgage lenders have forged an alliance and agreed to mount an “outreach” program to aid stressed American homeowners facing possible foreclosure, Treasury Secretary Henry Paulson announced Wednesday.
The Treasury chief touted the program weeks after President George W. Bush unveiled an initiaitve to help at-risk Americans keep their homes, amid […]

WASHINGTON - The Bush administration announced a new mortgage industry coalition on Wednesday aimed at helping homeowners avoid being trapped in a rising tide of foreclosures.
Treasury Secretary Henry Paulson said the initiative would boost financial companies’ efforts to help an estimated 2 million homeowners whose introductory mortgages with low rates are resetting at much higher […]