When people are panicking, it's hard to stop the stampede with talk about cutting a "federal funds rate." Economic fears on Wall Street and around the world are making people and businesses hunker down, and that could make recession worries come true - a vicious cycle the Federal Reserve, White House and Congress may be hard-pressed to break. ...more

January 23, 2008

Treasury Secretary Henry Paulson said Tuesday the Bush administration is exploring what would be a significant expansion of the program to help at-risk mortgage holders. ...more

January 9, 2008

Shares of Countrywide Financial Corp., the nation's largest mortgage lender, sank to an all-time low Tuesday as a major home builder offered a grim outlook for the industry and amid signals that the Bush administration is growing more concerned about rising mortgage defaults. ...more

January 9, 2008

The Bush administration is working to combat the country's severe housing crisis but there is no simple solution, Treasury Secretary Henry Paulson said Monday, adding that a correction in the housing market is "inevitable and necessary." ...more

January 8, 2008

U.S. homeowners increasingly failed to keep up with their home loan payments in November, as the number of foreclosure filings surged 68 percent nationwide compared with the same month a year ago, according to a mortgage research company. ...more

December 20, 2007

People taking out home mortgages may gain new protections soon against shady lending practices as the Federal Reserve seeks to back even the riskiest borrowers, already hit hardest by the housing and credit crunches. ...more

December 16, 2007

The Senate moved Friday against the worsening mortgage crisis, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. ...more

December 15, 2007

President Bush's plan to offer a little help for a few homeowners straining to repay adjustable-rate mortgages falls far short of financially rescuing anyone, but if it begins to restore market confidence it will be a success. ...more

December 12, 2007

Florida and California helped drive the national foreclosure rate to an all-time high in the third quarter, fresh evidence of the problems afflicting distressed homeowners amid the housing meltdown. ...more

December 7, 2007

For the second month in a row, Florida's foreclosure rate ranked third highest in the nation, the latest sign many homeowners are falling behind on mortgage payments and increasingly losing their homes, according to California-based research company RealtyTrac. ...more

November 30, 2007