Washington Mortgage

Washington - Foreclosure Prevention to Be Aided by US Government?
WASHINGTON - With concern building over troubles in the mortgage industry, The Center for American Progress said the government should consider grants to expand mortgage aid and foreclosure prevention programs for families falling behind on their monthly payments. Up to 2.2 million families around the U.S. could lose their homes to foreclosure in the coming years,

The report also highlighted homeowners' assistance programs in Pennsylvania, Massachusetts, North Carolina, Minneapolis and Brooklyn, New York, as models of ways to aid people in danger of losing their homes. The report said the federal government should provide a $25 million grant to expand these kinds of programs in parts of the country dealing with high foreclosure rates.[AP]