Amid Bad News, Homeowners Meet with Lenders

In the latest bad news about housing, sales of existing homes fell again in January, marking the sixth month of declines in a row.

The median price of those homes also fell, to just over $200,000 — down more than 4 percent from a year ago. In an effort to hold down the rising number of foreclosures, lenders are reaching out to borrowers who are behind on their payments.

In New York this past weekend, several hundred homeowners showed up at a high school in the Bronx to meet with lenders. Many borrowers wanted to know if anything could be done to help them hang on to their homes.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.