Mortgage Foreclosure & Refinance Resource

Bear Stearns reported a steep loss for its fourth quarter, its first ever in its eight-decade history. The investment bank said it lost about $854 million, or $6.90 a share. Bear Stearns also said it had written down $1.9 billion of its holdings in mortgages and mortgage-based securities, up from the $1.2 billion it had anticipated last month.

Please Remember: The U.S. Department of Housing & Urban Development offers free or extremely inexpensive nationwide housing counseling to consumers. They can aid you in understanding the laws in your state, detailing available options and reorganizing your finances. They can also represent you in your dealings with your lender if you need their help. Locate your nearby HUD-approved counselor by calling 1-800-877-8339.