Under fire to do more to stop the foreclosure crisis, the Obama administration will announce Friday new steps to help the unemployed and those who are “underwater” with a bigger mortgage than their home is worth.

For some unemployed borrowers, the effort would require servicers to reduce or suspend monthly mortgage payments for up to six months, an administration official said.

Also, the initiative calls for reducing the mortgage balances of some underwater homeowners to reflect current property values and refinancing them into Federal Housing Administration (FHA) loans. Loan servicers, who have been reluctant to cut mortgage principals, would receive incentives to do so.

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