The sub-prime mortgage meltdown and the resulting amount of foreclosures among state and Fairfield County homeowners has reached staggering proportions according to a crack panel of experts who gathered Tuesday afternoon at Norwalk City hall to discuss what can be done to stem the tide of  foreclosure cases.

The packed meeting was moderated by Connecticut Congressman Christopher Shays.  Many disturbing facts were presented. Among them: 10,000 sub-prime mortgages exist in Fairfield County alone, Connecticut is among the top ten of foreclosure states and up to 2.2 million homes in the nation may be affected in the coming year.

In what meeting panelist Julie Fagan, field leader for HUD, feels is the most comprehensive state legislation for the housing crisis yet passed, a recently signed bill by CT Governor Rell provides money for re-finance programs to help keep people in their homes as well as earmarking funds to hire mediators who will work with both lenders and borrowers to renegotiate mortage issues before a full foreclosure takes place. A guarantee that if a homeowner wishes to mediate, than the state will stand by those willing to go through that process.

Another congressional bill sponsored by CT Senator Christopher Dodd remains in discussion and a vote could hopefully come soon.

The overriding message of the meeting was to stop the blame game among lenders, mortgage brokers and home owners and to make a concerted effort to keep people in their homes.