[tag]Mortgage lenders [/tag]are making it easier to get loans even as the housing market cools — and as the number of [tag]borrowers[/tag] struggling to make their payments continues to rise, new studies show. In the latest sign that a cooling housing market and weaker credit standards are beginning to take their toll on borrowers and lenders, the number of past-due mortgages continued to rise in the three months ended Sept. 30, according to data from Equifax Inc. and Moody’s Economy.com Inc.

Agencies that counsel homeowners with mortgage problems say that many borrowers are running into problems because of the terms of their loans, not their personal circumstances. “It’s mostly people with adjustables” who are having trouble paying their loans, says Pam Canada, executive director of the NeighborWorks HomeOwnership Center in Sacramento, Calif. David M. Crosby, a Las Vegas bankruptcy attorney, says he has seen a “surge” in borrowers with mortgage problems. “Most of it is [tied to] the end of the housing boom, but I do see a good percentage of clients who got caught by a change in their mortgage rates.” In addition, some clients “bought a number of speculative homes,” he says. “The market turned on them, and now they are in a real financial mess.” Some homeowners are calling it quits. “A surprising number of people are walking away from their homes rather than trying to save them,” says Mr. Crosby, either because the rate on their loan has jumped or because they owe more than the home is worth.

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