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Thursday, August 9, 2012

''Harder-Luck Foreclosures Grow as Funding for Help Wanes''

From Business Week

''With millions of homes still in the foreclosure pipeline, mortgage counselors across the country say they are handling increasingly complex cases for homeowners who are unemployed, underwater, or redefaulting -- and sometimes, all three. Even as borrowers’ problems become more intractable, federal support is waning.

Counseling programs are funded largely through the U.S. Congress, which has allocated about $620 million to advise approximately 1.36 million homeowners through NeighborWorks America since December 2007, according to a June 11 report.'' 

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