There’s no help out there for people who are out of work and are just trying to hold on to their homes,” said John Schmitz, 62, of Thornwood, who has been unemployed from the world of finance for almost a year and has nearly exhausted his pension to keep current on his mortgage. “It’s so depressing.”
The public’s exasperation exists despite a federal push to stave off foreclosures through a $75 billion Making Home Affordable Program, which last month hit its target of lowering monthly mortgage payments for 500,000 troubled homeowners.
Locally, the mortgage crisis that has devastated Wall Street and clogged financial markets is becoming more apparent as foreclosure filings climb to new highs.
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