According to the latest statistics available from RealTrac, foreclosure activity rose by 25% during October 2008 over the same period last year with one out of every 452 homeowners being issued a foreclosure notice. There are 3 million homeowners and now at risk of losing their homes and leading the case on their behalf is the Federal Deposit Insurance Scheme Chairperson, Ms. Sheila Bair who points out that 1.5 million homeowners could be saved if 24.4 billion off the bailout proceeds are channeled to build up a Program for Loan Guarantees.
Read this article:Experts Urge That the Mortgage Mess Be Cleared at Root Level
