Further government intervention may be coming to help struggling homeowners facing foreclosure.

WASHINGTON (MarketWatch) — With the nation’s jobless making up a major part of future home foreclosures, advocacy groups are meeting with top Obama administration officials to seek ways to help keep the growing wave of unemployed borrowers in their homes.

Groups are meeting with officials at the Treasury Department, Housing and Urban Development, and in the White House’s National Economic Council to have them take part of an existing $75 billion program to help homeowners modify mortgages and put it in a program that would help the jobless stay in their homes.

The program would go beyond a measure included in sweeping bank reform legislation that would use $3 billion in bank bailout dollars to give the jobless fixed-rate, low interest rate loans.

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This entry was posted on Monday, December 21st, 2009 at 3:51 pm and is filed under Consumer Information, Market Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.