Private mortgage lenders warned on Monday the number of U.S. homeowners seeking help to avoid foreclosure would double next year, but said a moratorium on house evictions was not a good idea.
Hope Now, an industry alliance trying to keep homeowners in their homes after the collapse of the country's housing market, said mortgage modifications aimed at preventing foreclosures would climb to around 2 million in 2009.
Foreclosures are at an all-time high and are expected to rise as a year-long U.S. recession pushes up unemployment.
