Foreclosures Increase, Work to Combat it Slows

A recent report from Hope Now, the mortgage industry alliance of lenders, showed that help provided to homeowners in order to avoid foreclosure decreased 7% in the month of May. The slowdown in efforts is described as a result of increasing foreclosures, and a flurry of activity which the alliance must work to catch up to. As industry experts look to the future, it is predicted that this trend will continue for the next 18 months.

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http://money.cnn.com/2008/07/02/news/economy/hope_now_update/index.htm?section=money_realestate