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.