Government foreclosure relief for ‘underwater’ homeowners expands to those deeper in debt

September 21st, 2009 Homeownership fell in '08; Asians hit worstLOS ANGELES — Asians, many of them living in foreclosure-ravaged California, suffered the sharpest drop in homeownership last year, eclipsing declines felt by whites, blacks and Hispanics, according to new Census data. The decline was surprising, because Asians tend to earn more than other minority groups and have less debt.

September 9th, 2009 NC Gov. Perdue signs beefed up consumer protectionRALEIGH, N.C. — North Carolina consumers soon will have new protections from foreclosures and intimidating debt collection practices.

August 20th, 2009 Summary Box: Foreclosures hit new recordWHAT HAPPENED?: A quarterly report released Thursday by the Mortgage Bankers Association found that more than 13 percent of American homeowners with a mortgage have fallen behind on their payments or are in foreclosure. WHAT DOES IT MEAN?: It's another new record, and an indication that the foreclosure crisis is still getting worse as layoffs continue to soar.

July 31st, 2009 Federal authorities create mortgage fraud teamNEW HAVEN, Conn. — Federal authorities are creating a mortgage fraud task force in Connecticut to investigate schemes that contributed to the economic crisis and emerging crime trends associated with the growing tide of foreclosures.

July 29th, 2009 Official: Jackson doctor could face foreclosureLAS VEGAS — A title company official says Michael Jackson's personal physician could face foreclosure on the luxury Las Vegas home that authorities searched in a manslaughter investigation into the singer's death. Stewart Title foreclosure official Mary Hunt said Wednesday that Dr.

July 17th, 2009 NJ woman cooks up bake sale to end foreclosureTEANECK, N.J. — A New Jersey woman is hoping her bake sale will help forestall foreclosure and keep a roof over her head.

July 15th, 2009 FTC, 23 states act to stop sham loan consultantsLOS ANGELES — Prosecutors nationwide filed 189 legal actions Wednesday against loan modification consultants accused of bilking homeowners who are desperate to make their mortgage payments more affordable. The lawsuits and cease-and-desist orders announced by Federal Trade Commission Chairman Jon Leibowitz and California Attorney General Edmund G.

May 21st, 2009 WASHINGTON - US President Barack Obama Wednesday signed laws designed to help struggling homeowners avoid foreclosure and to combat mortgage and financial fraud. The two separate bills, the Helping Families Save Their Homes Act and the Fraud Enforcement and Recovery Act, 'will protect hard-working Americans, crack down on those who seek to take advantage of them and ensure that the problems that led us to this crisis never happen again,' Obama said at a signing ceremony in the White House.

May 5th, 2009 SC court halts thousands of home foreclosure salesCOLUMBIA, S.C. — South Carolina's highest court has temporarily stopped thousands of pending foreclosure sales so homeowners can take advantage of a new federal program to refinance mortgages.

April 30th, 2009 Senate defeats anti-foreclosure billWASHINGTON — With President Barack Obama on the sidelines, the Senate defeated his promise of a bankruptcy court refuge for hundreds of thousands of families about to lose their homes to foreclosure. The Senate voted 45-51 against the legislation, which would have let debt-ridden homeowners seek mortgage relief in bankruptcy court.

April 29th, 2009 Banks urge Senate to reject mortgage relief billWASHINGTON — A dozen financial groups, including the U.S. Chamber of Commerce and American Bankers Association, on Wednesday urged every member of the U.S.

April 28th, 2009 Treasury gives $121.8M to 12 banks under bailoutWASHINGTON — The Treasury Department has approved 12 more banks to participate in the $700 billion financial rescue program. The 12 institutions will receive a total of $121.8 million, Treasury said Tuesday, with about half going to Standard Bancshares Inc.

April 24th, 2009 Senate to sink mortgage relief planWASHINGTON — The centerpiece of President Barack Obama's plan to keep thousands of people from losing their homes amid the worst economic crisis in decades is headed for defeat next week in the Senate. Allowing people to seek mortgage relief in bankruptcy court is opposed by Republicans and enough Democrats to block it.

March 5th, 2009 WASHINGTON - The US launched an effort Wednesday to help homeowners pay off their mortgages, hoping to stabilize a housing crisis that lies at the centre of the country's deep recession. President Barack Obama last month announced a $75-billion plan to help up to 9 million homeowners refinance their mortgages and avoid foreclosure.

February 18th, 2009 WASHINGTON - US President Barack Obama has unveiled a $75 billion multi-pronged plan that seeks to help up to nine million American borrowers suffering from falling home prices and unaffordable mortgage terms. The foreclosure prevention programme aimed at arresting the problem that ignited America's economic woes is part of the Obama administration's multi-trillion dollar effort to jolt the nation out of its deepening recession.