Help for Valley homeowners

City officials launched two new efforts Tuesday to ease the foreclosure crisis, with a pilot program to offer financing help to troubled San Fernando Valley homeowners and a call for banks to explain their lending practices. Daily News
The $1.5 million pilot program, authored by Councilman Richard Alarc n, would help homeowners in his North and Central Valley council district with financing assistance to keep them in their homes.

Details of the program, which was given preliminary City Council approval, are still to be worked out by the city Housing Department within the next month.