Experts tell how to cut foreclosures

Charlotte Observer | 01/18/2006 | Experts tell how to cut foreclosures: "The Observer interviewed lenders and builders, borrowers and defaulters, community advocates and academics, and government officials. In addition to counseling for homeowners who have fallen behind on their mortgage payments, here are their top recommendations for reducing foreclosures:1. Teach home ownershipProblem: Many people lack basic financial literacy. They don't understand their loans. They don't know how to manage ownership of a home.Solution: Nearly everyone agrees lenders, governments and nonprofits should increase spending on education: basic financial education in public high schools; counseling on how to buy a home; counseling on how to own a home. Studies "
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