"What are we going to do if we lose the house?" "I can't let anyone find out." "I can't tell the kids. This is going to wreck their lives." "I am all alone." Many of these powerful thoughts have crossed the minds of homeowners who have fallen behind on their mortgage payments. Research conducted by the Ad Council shows that many struggling homeowners delay conversations about their mortgage concerns because they feel confused about where to turn for help and whom to trust. Tomorrow morning, Treasury, HUD and the Ad Council will unveil the third and final phase of their Foreclosure Prevention Assistance public service advertising (PSA) campaign to increase awareness of the Making Home Affordable® Program's free resources and assistance for struggling homeowners. As announced earlier this year, the Making Home Affordable® Program has been extended through December 2013 and the eligibility criteria have been broadened. Created by Chicago-based advertising agency, Schafer Condon Carter, the new PSAs, which will be available in English and Spanish, direct homeowners to call 888-995-HOPE (4673) for free access to HUD-approved housing experts who are available to speak one-on-one about solutions based on each family's individual circumstances - 24 hours a day, 7 days a week. Additionally, the campaign drives homeowners to the website MakingHomeAffordable.gov , which hosts robust online resources where homeowners can learn how to address their mortgage concerns. The new ads are being distributed ahead of the month of January - a time when historically many families struggle with their bills and are at increased risk of foreclosure. Per the Ad Council model, all PSAs will be aired and run in time and space donated by media organizations. Since the campaign was first launched in 2010, media outlets have donated $68.7 million in air time and space. Andrea Risotto is a Spokesperson...

Buoyed by a nascent housing recovery, homebuilder stocks have risen dramatically this year - a positive trend that one analyst forecasts will continue, provided the mortgage interest rate deduction isn't eliminated, a move that he says could be "catastrophic."

Washington, DC (Dec. 11, 2012)-Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, and 18 other House Members sent a letter to President Obama, House Speaker John Boehner, Democratic Leader Nancy Pelosi, Senate Majority Leader Harry Reid, and Minority Leader Mitch McConnell urging them to expand assistance to homeowners underwater on their mortgages as part of any package to resolve the fiscal cliff. "Given the clear benefits of providing assistance to underwater borrowers, as well as the significant savings for the American taxpayers, we believe that provisions expanding such assistance should be part of any deal to resolve the fiscal cliff," the Members wrote.  "At a minimum, such legislation should require that Fannie Mae and Freddie Mac offer principal reduction loan modifications to borrowers who are net present value positive." In July, the Federal Housing Finance Agency issued a study showing that offering principal reduction modifications under the Making Home Affordable-Principal Reduction Alternative program to borrowers with loans backed by Fannie Mae and Freddie Mac could help as many as half a million homeowners, save Fannie Mae and Freddie Mac as much as $3.6 billion, and save U.S. taxpayers up to $1 billion.    Today's letter is consistent with a proposal presented to Congress by the Obama Administration on November 29, 2012, which would avert the fiscal cliff by raising $1.6 trillion in revenues over the next ten years and investing $50 billion in stimulus spending to continue our nation's fragile economic recovery, including provisions specifically related to assisting struggling homeowners and addressing the nationwide foreclosure crisis. The following Members signed the letter:  Reps. David Cicilline, Mike Thompson, John Lewis, Brad Miller, Keith Ellison, Zoe Lofgren, Raul Grijalva, Mike Honda, George Miller, John Tierney,...

Genworth Names McInerney CEO to Fix Mortgage Insurer Businessweek Genworth Financial Inc. (GNW), the insurer whose stock plunged more than 80 percent since the end of 2006, named Thomas J. McInerney as chief executive officer to stanch losses from insuring mortgages in the U.S.. McInerney, previously CEO of ING ... and more »

CNBC Fed Survey: CNBC's Steve Liesman: Wall Street Worries Washington Will Wreck Economy

U.S. government bonds were steady on Tuesday as expectations the U.S. Federal Reserve will announce more monetary easing offset the impact of more than $50 billion of new supply planned for this week.

The new CNBC Fed Survey shows that Wall Street economists, money managers, and market strategists are increasingly worried that Washington politicians will push the U.S. economy into recession next year.