Lenders Move to Limit Foreclosures

The [tag]foreclosure market[/tag] is at an all time high. This is bad for [tag]homeowners [/tag]facing foreclosure, its good for people in the foreclosure sales business, but it’s really bad for the whole economy. With the recent wave of foreclosures around [tag]sub-prime loans[/tag] many in the industry are working to stop the [tag]financial[/tag] nightmare ahead.

“This rescue effort isn’t expected to save every at-risk homeowner. But it promises to reduce monthly payments for many who have fallen behind on mortgages. In the process, it could help to stabilize a struggling real estate market.”

- Yahoo! News

This is the [tag]worst housing market[/tag] since 1990, but maybe with these [tag]lender bailouts,[/tag] stricter lending rules around credit in the future may help to reduce the pain of current situation.