Housing lenders in March helped stave off foreclosure proceedings against nearly a quarter of a million delinquent borrowers across the nation, a coalition of business and community groups reported today.

Even so, new foreclosure proceedings were up nearly 20 percent in March, compared with February, according to Hope Now, a network of mortgage lenders, servicers, investors and community groups. The 290,000 new cases in March were the highest monthly total since the coalition began tracking data in mid 2007. Starts have risen by more than a third since January.

Addressing the crisis, lenders in March granted a reprieve to some 134,000 homeowners, making mortgage payments more affordable. The banks extended the payment periods for another 115,000.

Since the foreclosure crisis hit in July 2007, 1.4 million homes have been lost to foreclosure, the group said.