As we near the 2011 holiday season many retailers are beginning to add part-time employment opportunities that may be beneficial for consumers who might be unemployed or who are looking for an additional source of income to meet their financial needs, but there have also been some predictions that may point to a negative outlook for the job market, despite the fact that we recently saw around 91,000 jobs added in September. There have been some indications that employers do plan further cuts to their workforce, which may be in areas outside of these holiday job opportunities as there are some positive indications that retailers may hire a comparable amount of workers as last year, if not more, in preparation for what will hopefully be a season of good consumer demand.
However, with concerns over long-term joblessness, attentional cutbacks in areas of the job market, and the number of job additions being far lower than is needed to help the millions of unemployed homeowners find the income they need, there are those who feel unemployment foreclosure prevention programs will be more needed as we conclude 2011, rather than seeing reductions in problems related to unemployment for these homeowners. Obviously, there are some areas where homeowners are seeing more positive trends in terms of employment, but there are still states that are well above the national average when it comes to unemployment rates and for homeowners in these areas there is a question of what can be done to help them keep their home.
While, it’s been heavily reported on over the past months, there are still homeowners who are unaware of housing programs from state agencies, like the Hardest Hit Fund and forbearance programs available from the federal Unemployment Program, which is part of HAMP, but these incentives are not foolproof and have not always guaranteed homeowners aid. Yet, there are some areas where these HHF programs are still being used as not all of the funds allotted to various state housing agencies have been used in this capacity.
Furthermore, when homeowners are in a position where they may have the opportunity to acquire a job in the future, meaning they may simply be struggling through a period of joblessness that could have a light at the end of the tunnel, this usually gives mortgage servicers the incentive to work with a homeowner so that they can avoid either attempting a lengthy short sale or foreclosing on a home that will likely sit empty in the housing market for quite some time. While homeowners who are unemployed are not always in a position to avoid foreclosure it’s hoped that despite these reports of planned cuts to the workforce of certain businesses, lackluster job creation, and unemployed homeowners facing the loss of their home will lessen over the coming months and homeowners will still benefit from federal and state programs that are in place for issues such as this and will hopefully be of help to more men and women if unemployment does continue to remain a long-term problem.