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Six of the nation’s largest home mortgage lenders said on Tuesday that it will temporarily halt some of housing mortgages to allow 30 days to renegotiate their loans.

The announcement - in the country, which is Florida’s largest mortgage lender, Washington Mutual, Bank of americas, Citigroup, Wells Fargo and JP Morgan Chase - came as the economy continues to slide toward a deep recession, according to a forecast issued by an leading global economist in Fort Lauderdale. In Washington, banking leaders joined U.S. Treasury Secretary Henry Paulson to announce Survival Project, which is aimed at homeowners who are at least 90 days behind in their monthly mortgage payments.

The owners do not qualify if they are already in bankruptcy; have a date foreclosure sales of less than 30 days; bought the house as an investment, or property is not occupied.

Paulson said that the project “has the potential to offer new solutions to those responsible, capable, homeowners who want to maintain their homes.” He also said the $ 168 billion economic stimulus package that President Bush signed today, and the administration of housing initiatives, would help boost economic activity.

But critics said much more aid is needed to cope with the expected wave of mortgages in the next two years.

“In 30 days of rest can help some people catch their breath,” said Charles de Berkley Mortgage Results of Florida, but added that it will not be sufficient to resolve the crisis mortgage. Economists are forecasting the number of mortgages could reach 1 million this year and next, nearly twice the rate of 2007. The problem has grown even faster in South Florida, where the housing boom of 2000-2005 led some people to buy houses they could not afford. More than 3,750 houses were at least 90 days behind in their payments in Palm Beach and Broward counties in late December, according to statistics from Realestat.com, a plantation-based research firm.

That is nearly three times the number of homes behind in their payments in December 2006.

Survival Project will be made available to owners of all types of mortgages. This is an extension of an initiative announced by President Bush in December offered a freeze on subprime mortgage rates that are scheduled to restart sharply higher rates for borrowers who qualify for assistance.

Paulson said that the 30-day break would give borrowers time to prepare the terms of refinancing with its lenders. However, lenders are not obliged to offer more favorable financing conditions to borrowers in trouble, what mockery of some critics.

“One month moratorium on mortgages mortgage is like a Band-Aid when the patient really needs surgery,” said AFL-CIO President John Sweeney.

Senate Banking Committee Chairman Christopher Dodd, D-Conn., Which held hearings on the housing problem with Paulson and Federal Reserve Chairman Ben Bernanke on Thursday, has proposed a Housing Preservation Corp., which buys mortgages at a discount lenders, and then rework loans based on the reduction of property values.

At a meeting of about 450 businessmen at the Broward County Convention Center on Tuesday, economist Aldo Roldan said that there was little hope for a quick change of the nation’s economy.

“It can be a nasty and lengthy recession, when it comes to a consumer-led recession,” said Roldan, associate portfolio manager of the $ 24 billion BlackRock Global Fund allocation.

Roldan of the Commission came to the annual Economic Forecast Breakfast sponsored by the association of executives from Fort Lauderdale, a group of networks. He said many economic signs show a recession has already begun. It was deep, he said, and he does not have a clear vision of where the housing industry’s problems will end.

He added the credit crunch “would be long and difficult to resolve.”

The housing crisis, he said, is “a body blow direct consumer and also the largest market capitalization in the world, for mortgage-backed securities.”

It will take much time to rest the high indebtedness of companies and consumers, he said. The estimate of losses for the financial industry are between $ 400 million and $ 650 million.

In the short-term stimulus package will be too little to alleviate the situation, he said. During what he called “the recession of 2008,” Roldan said he hoped that the personal consumption expenditures for the fall. In addition, it can take several years before housing prices stop falling.

“It was a little more serious than I thought it was going to be,” said Jody Moore, a partner with MSI Consulting, an executive search firm in Fort Lauderdale. Moore is executive chairman of the group that sponsors the annual economic forecast breakfast. He said he was surprised Roldan expected to refuse to be steeper than the 2001 recession and the worst since 1991.

When asked how to make money in this situation, Roldan suggests that investors keep a lot of cash, we expect the bonds in the United States and abroad, taking into account the overall investment in natural resources and raw materials and avoid that U.S. stocks would be more hurt in a recession, as retailers.

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Effective August 2005, First American Equity Loan Services, Regional Advantage Lenders Advantage and national lenders have merged to create First American Advantage credit… a progressive division that combines all securities and securities-related products and residential services for loans in a unified source and delivery through a single interface dynamics. This unification now allows us to offer solutions that are completely full liquidation unique in the market … with the flexibility to design customized programs for each type of loan and lender - regionally and nationally.

First American Equity Loan Services, Inc. was originally established in Cleveland, Ohio in 1983 with the express purpose of the services of property information and unique needs of title insurance fair housing lenders. Our company goal has always been to provide each of our customers with the most professional and timely products and services required by lenders to process and close its residential real estate secured loans.

California Lenders Advantage was first established in 1993 to provide a single point of contact for the title and refinance operations within the state. Our Regional Division now has centralized locations in California, Arizona, Nevada, Utah and Texas that are available to provide the title and settlement solutions for local mortgage lenders, community banks and credit unions in the western states.

In 1998, our National Lenders Advantage division was expanded into a single division for the specific purpose of providing a large volume of solutions closure and title insurance for residential mortgage lenders nationally. Driven by the tremendous needs of the “refi boom,” we have developed innovative products title and modernizing the settlement process - supported by our own notary signature network and patented technology.

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