NEW YORK (CNNMoney.com) — More home owners than ever are losing the battle to make their monthly mortgage payments.
Over 900,000 households are in the foreclosure process, up 71% from a year ago, according to a survey by the Mortgage Bankers Association. That figure represents 2.04% of all mortgages, the highest rate in the report’s quarterly, […]

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The Wall Street Journal reports from California. “As home prices plummet, growing numbers of borrowers are winding up owing more on their homes than the homes are worth, raising concerns that a new group of homeowners, those who can afford to pay their mortgages but have decided not to, are starting to walk away from […]

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WASHINGTON — A key Democratic congressman is planning a push to expand the federal government’s role in stabilizing the housing market, setting up a showdown with a White House that has largely looked for private-sector solutions.
Barney Frank, D-Mass., the chairman of the House Financial Services Committee, is floating an initiative that aims to refinance as […]

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NEW YORK (AP) — Thornburg Mortgage Inc., a mortgage lender, said Thursday it has been the subject of margin calls on a portfolio of securities backed by alt-A mortgages.
Alt-A mortgages are loans given to customers with minor credit problems or who cannot document their income or assets to get a traditional, prime mortgage. Margin calls […]

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AFP - Fannie Mae, a leading US financing provider for mortgages, said Wednesday it swung into a loss of 2.1 billion dollars in 2007 amid a deepening housing downturn and warned of “another tough year.”
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WASHINGTON (AP) — Investors could sell up to $15 billion of troubled mortgages to the government under a plan key House members are discussing to bolster the U.S. housing market.
The tentative plan would allow the government to purchase up to 1 million mortgages over five years in an effort to help struggling borrowers avoid foreclosure, […]

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WASHINGTON (AP) — The White House promised on Tuesday to veto a bill seeking to follow up the recent economic stimulus package with several proposals to shore up the struggling housing market and reduce foreclosures.
Senate Democrats had hoped to begin debate on the housing bill on Tuesday but action has been put off until later […]

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Reuters - One-tenth of U.S. homeowners hold
mortgages that are larger than the worth of their homes,
Moody’s Economy.com said on Friday.
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