March 6, 2008

Struggling With the Mortgage Crisis

By Brennen Jensen

Foundations and charities face new challenges as more and more homeowners get in financial trouble

As the country's once-booming housing market enters its third year of decline, the home-foreclosure rate is soaring. Last year more than 400,000 families facing financial distress or holding problematic loans lost their home to foreclosure, a 50-percent increase over 2006, according to RealtyTrac, an Irvine, Calif., firm that tracks real-estate data.

Another 2.2 million or more

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