For those worried about foreclosures, the Bush Administration has come up with another program designed to forestall foreclosures. Unlike the mortgage rate freeze of late last year, which only benefits subprime borrowers, Project Lifeline is for homeowners with any type of loan. The New York Times reports on Project Lifeline:

Under Project Lifeline, banks are promising to delay foreclosure
proceedings for 30 days for delinquent borrowers with both subprime and
higher-quality loans. During the pause, the banks would presumably try
to modify the loans to make them affordable over the long run.

Also, keep in mind that tax relief is available for those with mortgage debt forgiveness. If you are concerned about foreclosure, or if you have redone your mortgage terms lately, consider your options. You may be eligible for help.