U.S. moves to stem wave of foreclosures
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Steps by Congress and the Fed will ease the problem, but not cure it, experts say.
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The Federal Bureau of Investigation, seeking to stem a rising tide of crime in home financing, said on Thursday it will warn borrowers and lenders that mortgage fraud can result in stiff fines and prison time.
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The US Federal Reserve is set to agree a range of measures giving mortgage holders more protection.
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President George W. Bush on Friday tried to calm financial market turmoil from the credit crisis by announcing proposals intended to prevent homeowners from defaulting on risky mortgages.
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U.S. homeowners began the foreclosure  process at a record pace in the first quarter of 2007, largely  due to a sharp rise in previously hot real estate markets such  as California and Florida.
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A new plan by six major lenders to delay home foreclosures for some borrowers won't be any more effective than a government-brokered temporary rate freeze program rolled out several weeks ago, a top U.S. banking regulator said on Wednesday.
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Treasury chief is looking for a financial instrument to help homeowners facing foreclosure.
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Mortgage foreclosures in the United States jumped to a record in the first half as rising interest rates and falling home prices battered homeowners.
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Federal Reserve chairman Ben S. Bernanke is suggesting that policy makers look for ways to encourage a wider range of mortgages geared for low-income and other borrowers who have been hard hit by the housing slump and credit crunch.
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WASHINGTON -- Spurred by the crisis in the home mortgage industry, Congress is readying a slew of proposals aimed at changing some lending practices and helping financially distressed homeowners hang onto their homes.
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US banking regulators yesterday urged mortgage servicers to be proactive and contact borrowers at risk of default to help them avoid foreclosure and keep their homes.
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WASHINGTON -- The Federal Reserve and other banking regulators issued special guidance Tuesday urging loan service companies to work with borrowers in danger of defaulting on their home mortgages.
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Six of the biggest US banks are set to announce plans to offer more help to those struggling with mortgages.
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U.S. President George W. Bush will propose reforms on Friday intended to help homeowners with subprime mortgages avoid default, his first public step to address a crisis that has created turmoil in financial markets around the world.
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President George W. Bush on Friday will propose a series of steps to address the mortgage crisis after weeks of turmoil in financial markets, the White House said.
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President George W. Bush will  propose reforms on Friday intended to help homeowners with  subprime mortgages avoid default, his first public step to  address a crisis that has created turmoil in financial markets  around the world.
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Six top mortgage companies on Tuesday launched a new program aimed at staving off foreclosure for seriously delinquent borrowers in the hopes that new, more affordable loan terms can be worked out.