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loan modification when you are unemployed

Consumer Advocates Pushing to Help Jobless Homeowners

by Moe Bedard

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

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Barney Frank Going to Bat for Unemployed Homeowners

by Moe Bedard

“These are people who are very responsible, very thoughtful. They got a home, it’s above water, they’ve got equity, but they’re unemployed, and you can’t afford mortgage payments on unemployment,” said Frank, D-Mass.
Rep. Barney Frank said Monday he is pushing a proposal to use some of the interest the government collects from the financial industry [...]

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No Mortgage Help for the Unemployed

by Moe Bedard

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 [...]

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Unemployment Will Worsen the Foreclosure Crisis

by Moe Bedard

Housing analysts say they have to raise their forecasts on mortgage delinquencies and foreclosures as unemployment creeps up. Despite a rising number of home sales and other positive data, the broad housing market won’t really recover until employment picks up.
“The rise in unemployment rate is an indicator of people’s inability to pay mortgages,” said Mark [...]

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Unemployed homeowners could get financial assistance

by Moe Bedard

WASHINGTON — The Obama administration is engaged in high-level talks about providing financial assistance to homeowners who’ve lost their jobs and can’t afford their mortgage payments.
The Treasury Department held meetings on the subject as recently as Thursday with key stakeholders, according to Laura Armstrong, a spokeswoman for Hope Now, an alliance of non-profits and mortgage [...]

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