Six Lenders and "Project Lifeline".

Announced today by Treasury and HUD Secretary. Subset of HOPE NOW Alliance (link in right pane). Features:

1. Six lenders
2. Target is seriously delinquent borrowers-90+ Days
3. Not limited to sub prime borrowers.
   
4. Lenders sending letters to borrowers offering "if appropriate" to "suspend" foreclosure process for 30 days.
5. During 30 days options will be examined.

More in this HOPE NOW Alliance press release HERE.