Lenders set to unveil foreclosure-avoidance program

Six major mortgage lenders are expected to announce plans today to help homeowners avoid foreclosures. Project Lifeline was forged with prompting from the Bush administration and will include a promise by lenders to contact mortgage holders who are more than 90 days in arrears. Some homeowners will have an opportunity to pause their foreclosures for 30 days.

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Wall Street Journal (tiered subscription model), The · Bloomberg

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