Little noticed in the day's headlines is this little tidbit: Existing home sales fell another 3% last month. The average house today is worth about what it was in early 2004. Commentator Dean Baker says attention must be paid.
When Donald Trump almost went bankrupt in the '90s, creditors made him give up his credit cards before he got help. Commentator Todd Buchholz says homeowners who face foreclosure have to give up some things too.
African Americans could lose up to $90 billion from foreclosures, according to a recent study. As Jenee Darden reports, some predominantly black churches are offering help to those in need of a financial rescue.
Citigroup is launching a program which will reach out to half a million borrowers to help them avoid foreclosure. Jennifer Collins gives details of the plan, which will keep borrowers paying in tinier amounts.