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For the Jobless, Little U.S. Help on Foreclosure

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For the Jobless, Little U.S. Help on Foreclosure

Post by Guest on Mon Jun 06, 2011 8:12 am

The administration’s housing effort does include programs to help unemployed homeowners, but they have been plagued by delays, dubious benefits and abysmal participation. For example, a Treasury Department effort started in early 2010 allows the jobless to postpone mortgage payments for three months, but the average length of unemployment is now nine months. As of March 31, there were only 7,397 participants.

http://www.nytimes.com/2011/06/05/business/economy/05housing.html?_r=2&ref=business

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Re: For the Jobless, Little U.S. Help on Foreclosure

Post by Guest on Mon Jun 06, 2011 8:15 am

Just a note on this - the above article regarding foreclosures states that the average length of unemployment is now 9 months. These figures come for US Department of Labor Bureau of Labor Statistics.

Given that, why is EUC08 being phased out in a few months? Regular state UI is 26 weeks, now less than that in some states.

Doesn't this somber fact alone justify the need for Federal extensions - at LEAST tier 1 - with 14 additional weeks added to it!!!

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