Comment on New wave of foreclosures by end of 2010 is feared

New wave of foreclosures by end of 2010 is feared

New wave of foreclosures by end of 2010 is feared

About 4 million U.S. homeowners are 90 days or more delinquent on their loans or in foreclosure proceedings, Moody's Economy.com says. A federal loan modification program is helping a relative few. Experts fear that a new wave of foreclosures will hit this year as prolonged unemployment makes it difficult for millions of homeowners to pay their mortgages -- and many of them aren't likely to get much help from a federal program aimed at keeping them in their houses.

 

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