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Thread: Unemployed, and heading toward foreclosure

  1. #1
    Taking A Stand!!!

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    Default Unemployed, and heading toward foreclosure

    It pains me to read these stories. It could be any of us in the blink of an eye. As long as we have this many unemployed people, we will have a foreclosure problem. The sad thing is, for many people, apartment rent can be much more expensive then the mortgage payments on their houses. I know this to be true for us. What will those people do when they lose their homes? Live in their cars until they lose those?

    When Congress refusedto renew federal benefits for 1.7 million jobless Americans in December, they also cut a lifeline for homeowners who are now struggling to make their mortgage payments. About 54% of the long-term unemployed live in owner-occupied homes, according to Urban Institute researcher Austin Nichols—a total of 2.9 million Americans, according to the Current Population Survey. So the loss of income may cut off a crucial source of mortgage payments for these households.

    That means many unemployed Americans and their families have even more to lose, without much of a backstop. A federal program that provided direct loans to unemployed homeowners has expired; many state-run programs have dispersed only a fraction of their funds. For many, the only option may be to buy themselves some more time—time that’s yielded few new opportunities for the long-term unemployed.

    As a result, new defaults and foreclosures continue to be a drag on the recovery, even though the worst of the housing crisis has long since passed. While bad practices by mortgage companies still cast a shadow over many homeowners, advocates say there’s been a shift with the more recent cases that are starting to come through the system.
    Unemployed, and heading toward foreclosure | MSNBC

  2. #2
    Big Brown Boxchucker

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    Default Re: Unemployed, and heading toward foreclosure

    I guess the bleeding heart liberals don't bleed much anymore

  3. #3
    Taking A Stand!!!

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    Default Re: Unemployed, and heading toward foreclosure

    [QUOTE=realAZteamster;275096]I guess the bleeding heart liberals don't bleed much anymore[/QUOTE

    And where are the liberals the problem? Seems pretty clear the Republicans are the problem.

    House Republicans Not Feeling Any Pressure to Extend Unemployment Insurance

    Rep. Tom Cole, R-Okla., said there has been no talk amongst House Republicans about taking up an unemployment-insurance package, noting that the conference is strongly behind Boehner on the issue. "There's just not a big appetite amongst our members to actually [pass the Senate bill]," he said.
    Republicans argue that if Democrats really want to extend the program, they'll have to find real savings. "In a multitrillion budget, we could find tens of millions of dollars that we could probably agree on.… I don't think that's too much to ask," Cole argued. "We've worked hard to cut the budget deficit as much as we have. I don't think we should be surrendering these gains for pie-in-the-sky plans coming out of the United States Senate."

    "If they were remotely serious, if they were really concerned about these people, they'd help us find the savings," Cole added.

    But there is also a large group of House Republicans who oppose extending the benefits at all, arguing that the economy is slowly recovering and that most unemployed individuals already receive 26 weeks worth of support before the federal emergency extension—which expired on Dec. 28—kicks in. "We're not talking about eliminating unemployment insurance. We're talking about going back to a more normal length of time," Cole said.
    House Republicans Not Feeling Any Pressure to Extend Unemployment Insurance - NationalJournal.com
    fxstc07 likes this.

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    I Am Rocking Now

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    Default Re: Unemployed, and heading toward foreclosure

    Quote Originally Posted by realAZteamster View Post
    I guess the bleeding heart liberals don't bleed much anymore
    Blame the left, the liberals, well here something form the right,

    Directly Destroying Our Democracy

    O' by the way the article was written by Leo Gerard, President of the "United Steel Workers Union"
    the article also mentions " Unemployment Insurance"

 

 

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