borrowers

The government may allow more borrowers to qualify for a $300 billion program designed to let troubled homeowners swap risky loans for more affordable ones.

Citigroup says it is imposing a moratorium on most foreclosures as part of a series of initiatives aimed at helping at-risk borrowers remain in their homes — making Citi the latest big bank to announce sweeping efforts to try to curtail losses from souring mortgages.

Billions of federal bailout dollars are flooding the financial system, credit markets are loosening and many banks say they are ready to lend.

But a crucial piece needed to solve the credit crisis is still missing: borrowers.

The government expects only 20,000 troubled borrowers will apply to refinance into more affordable home loans by next fall under a new mortgage aid program passed by lawmakers over the summer.

The Bush Administration is working to create a program that would cut down on foreclosures by helping credit worthy borrowers make their monthly mortgage payments.

The government is preparing to unveil a plan as soon as Thursday guaranteeing around $500 billion in loans to troubled borrowers, sources familiar briefed on the matter said.

Businesses are creating detailed profiles of the financial lives of Americans and selling that information to banks.

As the credit crisis on Wall Street moves to Main Street, borrowers are finding that the nation’s lenders are tightening up in numerous ways.

Home foreclosures hit another record in the second quarter, but the number of borrowers falling behind on payments dropped for the first time in more than two years, an industry report shows.

The attorney general is preparing a lawsuit against Goal Financial, charging that the lender broke laws by luring borrowers with cash and gifts and that it misled consumers about loan terms.