Administration tells Congress it is dealing with rising mortgage foreclosures

The Bush administration assured Congress on Friday that it is aggressively working to deal with a rising tide of mortgage foreclosures in the country. Officials, however, said homeowners threatened with the loss of their homes must do their part by actively seeking help to avert foreclosures.

Many Democrats have been highly critical of the administration’s efforts. They have been contending that they are too dependent on the industry and offer too little in terms of government assistance to stem what could be an estimated 2 million home foreclosures in the coming two years.

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