Mortgage bankers report hits grim a benchmark in first quarter, showing a record number of homes in jeopardy.
NEW YORK (CNNMoney.com) — More than one million homes are now in foreclosure, the highest rate ever recorded, according to a trade group which warned Thursday that number will continue to climb.
The Mortgage Bankers Association’s first quarter report […]

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WASHINGTON - California Rep. Laura Richardson claimed Friday that her Sacramento, Calif., home was sold into foreclosure without her knowledge and contrary to an agreement with her lender.
She said she is like any other American suffering in the mortgage crisis and wants to testify to Congress about her experience as lawmakers craft a foreclosure-prevention bill.
In […]

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LOS ANGELES - More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year and contributing to a deepening slide in home values, a research company said Tuesday.
Nationwide, 243,353 homes received at least one foreclosure-related filing in April, up 65 […]

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Reuters - Home foreclosure filings surged 57 percent in the 12 month-period ended in March and bank repossessions soared 129 percent from a year ago, as homeowners struggled to make mortgage payments, real estate data firm RealtyTrac said on Tuesday.
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WASHINGTON - A program President Bush is expanding to help struggling homeowners head off foreclosure has helped only 1 percent of the borrowers it originally set out to assist and is expected to reach just 100,000 more by the end of the year.
The administration claims the initiative has reached 60 times more homeowners and will […]

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Reuters - U.S. President George W. Bush proposed on Wednesday expanding a program to help homeowners meet mortgage payments while Democratic lawmakers pressed ahead with a broader plan, setting the stage for a political showdown over how best to aid the housing market.
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The Union Tribune reports from California. “Economist Edward Leamer, director of the UCLA Anderson Forecast, said the creation of a company that helps borrowers go into foreclosure reflects ‘a collective erosion in borrowers’ commitment to service their loans.’ Households didn’t default on mortgages unless they experienced life-changing events, such as illness, divorce or a death […]

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When Raymond Zulueta went into default on his mortgage last year, he did what a lot of people do. He worried.
Raymond Zulueta, with his wife, Josey, and daughter, Amber, in front of their foreclosed home.
In a declining housing market, he owed more than the house was worth, and his mortgage payments, even on an interest-only […]

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