Submitted by:
sharpsteve

---

---

Subscribe to this Author

---

Paste this code into your site to promote this story!
<a href="http://www.breakthematrix.com/Housing/As-Bill-Evolves-Mortgage-Debt-Is-Snowballing" onClick="document.images["breakTheMatrix"].src='http://www.breakthematrix.com/badge/badge.php?cid=11701';return false"><img name="breakTheMatrix" src="http://www.breakthematrix.com/badge/badge.php?cid=11701" border="0" /></a>

http://www.nytimes.com/2008/06/29/washington/29housing.html?hp

When Congress started fashioning a sweeping rescue package for struggling homeowners earlier this year, 2.6 million loans were in trouble. But the problem has grown considerably in just six months and is continuing to worsen.

More than three million borrowers are in distress, and analysts are forecasting a couple of million more will fall behind on their payments in the coming year as home prices fall further and the economy weakens.

Read »

Created 22 weeks 2 days ago