More loan servicers agree to put foreclosures on hold

Loan servicers and lenders who handle about nine out of 10 subprime loans have agreed to participate in an initiative to help delinquent borrowers by putting foreclosure proceedings on hold for up to 30 days to evaluate alternatives.

The Project Lifeline initiative, targeted at borrowers who are 90 days or more behind on their payments, was announced by six major lenders on Feb.

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