More Americans face losing homes

Washington: A record number of Americans were in danger of losing their homes in the fourth quarter, even as new delinquencies declined, the Mortgage Bankers Association said.

Loans in foreclosure rose to 4.58% of all mortgages and the share more than 90 days overdue, the point at which lenders typically begin the process of seizing a property, rose to 5.09%, the Washington-based trade group said.

Government efforts to prevent foreclosures have been thwarted by the biggest employment contraction since the Great Depression. US companies shed more than 7 million jobs since December 2007.