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WASHINGTON (Dow Jones)–Community groups are scheduled to meet with White House staff Monday to discuss ways to help the unemployed avoid foreclosure.
Faith-based community groups belonging to the PICO National Network and some allied organizations will be meeting with White House National Economic Council staff to advocate for federal loans or grants to help jobless homeowners make their mortgage payments.
The proposal they are pushing is likely to cost $2 billion to $3 billion a month at current unemployment rates of above 10%, according to University of Wisconsin professor Morris Davis, who was on a call Wednesday to publicize the meeting.
