With home sales plummeting, values sliding and mortgage companies newly picky about who can refinance, more California homeowners than ever before faced foreclosure last quarter.

WASHINGTON - Distress in the mortgage market is stirring a wave of new relief bills on Capitol Hill, including one that would let homeowners tap into their retirement accounts - penalty-free - to bring their loans current or to refinance.

The housing boom led to record home ownership rates, but many of those new homeowners, who now are experiencing problems making their mortgage payments and aren't in a position to refinance their loans, are looking at foreclosure.

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Sept. 19 (Bloomberg) -- As many as half of the 450,000 subprime borrowers whose mortgage payments increase in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government.

Sept. 19 (Bloomberg) -- As many as half of the 450,000 subprime borrowers whose mortgage payments increase in the next three months may lose their homes because they can't sell, refinance or qualify for help from the U.S. government.

WASHINGTON - Rates on 30-year mortgages dropped this week to the lowest point in four months, providing some relief for people hoping to refinance their existing mortgages.