(NECN: Washington) - Treasury Secretary Timothy Geithner says the government is trying to keep as many struggling borrowers as possible in their homes in several economic programs.
"Two years after the peak of the crisis, the economy has now been growing for 18 months," said Geithner.
"The most dangerous part of this financial storm has passed us," said Geithner.
Geithner tells a congressional oversight panel that although the Treasury Department's ability to spend new bailout funds for the central foreclosure-prevention effort expired in October, it is running other programs.
"It is going to take years to fully repair the damage caused by this crisis," said Geithner.
Geithern says the housing market remains weak and that the government is putting downward pressure on mortgage rates.