Coincidence?: Obama Administration Officials To Discuss Housing

Either the president is a man of his word, or he was using yesterday's Twitter Town Hall event to plug his next program effort.

Yesterday, the president, when asked what he would do differently about handling the recession America experienced the last two years, answered that he would have tried to prevent more people from losing their home.

Today, the White House Press Office put out a statement that Obama officials will convene a media conference call with Secretary of Housing and Urban Development Shaun Donovan to announce new housing program improvements to help unemployed homeowners. The program will require home loan servicers to extend the forbearance period for unemployed homeowners with Federal Housing Administration (FHA) insured loans to 12 months.

Servicers participating in the Making Home Affordable Program (MHA) will also be required to extend the forbearance period for unemployed borrowers to 12 months wherever possible under regulator and investor guidelines. These adjustments will provide more opportunities for unemployed borrowers to stay in their homes while seeking employment.

Also today, a representative from the DC Home Saver Program spoke on WPFW's Metro Watch program informing listeners about a program that will pay past due mortgages for unemployed homeowners.

"There is about twenty billion dollars in this program", the representative said.

The program can assist unemployed homeowners, currently receiving unemployment benefits, with up to six months of delinquency. For more information, log on to www.homesaverdc.org.

See also MakingHomeAffordable.gov.

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