Released: October 24, 2008

4 programs to help troubled homeowners

Source: Anna Bahney & Barbara Hagenbaugh, USA Today

Assistance is growing to help financially distressed homeowners, but the nation’s mounting caseload of foreclosures and mortgage delinquencies is rising faster.

The Bush administration should have a plan for a systematic approach to help homeowners rework their mortgages within weeks, the Treasury official in charge of implementation of the $700 billion financial rescue package said Thursday.

One idea under consideration would give government loan guarantees to financial institutions that modify mortgages to make them more affordable.

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