Sunday, July 10, 2011

Local and National Unemployment Bump Up, and Obama Admin Announces Additional Foreclosure Aid for the Jobless

Local unemployment is rising again (nb: these numbers were announced before the Gordonsville debacle) and the national rate has bounced back up to 9.2%, though the "real" rate includes "discouraged workers" and is a shocking 16.2%.

The other day, we posted about the $50k interest-free loans that will be available by lottery to qualified unemployed mortgageholders.

Now the Obama admin is adding additional help: loan forbearance.  For unemployed workers whose loans are backed by the Federal Government (Fannie or Freddie) payments may be skipped for up to 12 months without threat of foreclosure.  Read the HUD press release, and see the LA Time article.

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