FACTBOX: Presidential candidates on the mortgage crisis

(Reuters) - Mounting U.S. mortgage foreclosures have spooked financial markets around the globe in recent months, prompting policymakers to draft programs that could help borrowers save their homes.

At the Bush administration's urging this month, several large mortgage companies developed a program to stall foreclosure proceedings for some troubled borrowers.

A new federal economic stimulus package would expand refinancing options for many borrowers who cannot afford their current payments.

Here are proposals by some 2008 presidential candidates on how to deal with the mortgage crisis.

NEW YORK DEMOCRATIC SEN. HILLARY CLINTON:

- called on the Bush administration to impose a 90-day moratorium on foreclosures of subprime mortgages on owner-occupied homes;

- wants interest rates for high-cost loans to be frozen for five years;

- said she might offer legislation that would allow lenders to restructure troubled loans without investor permission;

- proposed $5 billion for counseling and other measures to reduce foreclosures;

- would let bankruptcy judges erase some mortgage debt for borrowers who are insolvent.

ILLINOIS DEMOCRATIC SEN. BARACK OBAMA:

- On his campaign Web site, Obama says he would establish stiff penalties for mortgage fraud and has proposed better loan disclosure;

- would establish a fund to help people refinance their mortgages or sell their houses if they cannot afford them;

- would use a small portion of profits from Fannie Mae and Freddie Mac to create up to 14,000 units of new affordable housing every year;

- would restore funding for the Community Development Block Grant program, which provides housing and jobs for low income people.

ARIZONA REPUBLICAN SEN. JOHN MCCAIN:

- has said that any effort to aid troubled borrowers should not reward speculators who bet on home price increases and were stung.

(Reporting by Andy Sullivan and Patrick Rucker in Washington; editing by Mohammad Zargham)