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<!-- ID: SB123437724213273969 --> <!-- TYPE: Real Estate --> <!-- DISPLAY-NAME: Real Estate --> <!-- PUBLICATION: The Wall Street Journal Interactive Edition --> <!-- DATE: 2009-02-12 00:01 --> <!-- COPYRIGHT: Dow Jones & Company, Inc. --> <!-- ORIGINAL-ID: --> <!-- article start --> <!-- CODE=SUBJECT SYMBOL=OECN CODE=SUBJECT SYMBOL=ONEW CODE=INDUSTRY SYMBOL=DRL --> Foreclosures Ease as Lenders Await U.S. Plan to Aid Borrowers
Even though more Americans are falling behind on mortgage payments, the torrent of home foreclosures is slowing as lenders await a U.S. government plan aimed at keeping troubled borrowers in their homes.
The Office of Thrift Supervision on Wednesday called for the savings-and-loan institutions it regulates to suspend foreclosures on owner-occupied homes until the Obama administration completes a plan to help many borrowers reduce payments on home mortgages. That initiative, which has a $50 billion price tag, is expected within weeks.
That Obama plan is expected to involve sharp reductions in payments. At present, many loan-modification plans call for holding .
