3 Million Jobless Face Foreclosure-Government Targets 400,000 Hardest Hit With More Funds

Posted on August 11th, 2010 in All Articles.

The Treasury dept announced that the Hardest hit fund announced by Obama in January will be expanded. Until now, the Hardest Hit Fund had been projected to help about 140,000 borrowers. Treasury officials said that number would increase now with the new infusion of funds by Obama announced today to have the unemployed be given assistance to keep their properties.

If the funds will be spent in the same way as the previous money, both programs would eventually aid about 370,000 borrowers — a large number, but not when set against the 13 MILLiON million unemployed or three million contemplating foreclosure.

Yes that’s three million homes goin to foreclosure die to lost jobs.

Usually the housing sector leads the economy out if the recession!!! This super recession is being made longer by the housing correction that is still underway.