AP - The CEO of Hovnanian Enterprises Inc. said a modest surge in foreclosures this year wouldn’t have a devastating effect on the homebuilder’s sales.

Reuters - U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.

Reuters - U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.

BusinessWeek Online - Entrepreneur Michael Bissell worries about losing his business, his house, or both. His 10-year-old Web design firm in Portland, Ore., is struggling as customers fall behind on their bills. To cover salary and other expenses, Bissell tapped into his home last year for extra cash, relying on his exotic mortgage, which gives him the option to pay less than the monthly interest and principal for a while

BusinessWeek Online - Finally, there might be some good news for struggling homeowners. Thousands of mortgage loans that were supposed to reset at a higher rate this spring won’t be changing, putting off the grim threat of foreclosure or bankruptcy for many Americans by as much as a year. Unfortunately, the reprieve will only be a temporary one.

Reuters - The U.S. housing crisis has caused huge loan losses at big lenders but also spawned a slew of class-action lawsuits against them, many alleging noncompliance with consumer disclosure rules.

Investor’s Business Daily - It was more than four years ago that John Stumpf, then chief operating officer of Wells Fargo , grew leery of the booming housing market.

BusinessWeek Online - 2008 was the year that subprime borrowers and speculators got hurt by the real estate crisis.

BusinessWeek Online - 2008 was the year that subprime borrowers and speculators got hurt by the real estate crisis. 2009 could be when everyone else gets hit.

Investor’s Business Daily - After a deluge of mortgage defaults, the proverbial perfect storm is building.