More Consumers May Need Unemployment Homeowner Assistance From States And Debt Repayment Aid From Creditors

Reports that were released a few weeks ago showing that the unemployment rate on the national level has remained unchanged at 9.1% were also followed by various state unemployment data that indicated there are still many areas that are seeing problems as some areas that saw the largest decrease in employment on a month over month basis were North Carolina, Ohio, and Pennsylvania, which is information that was released last Friday by the Bureau of Labor Statistics. Yet, areas like Nevada, California, and Florida, and some other states that have continued to see unemployment numbers remained in the double digits, which has led to the implementation of state programs that are hopefully still helping homeowners in need and debt repayment aid that may be available directly from some creditors.

Obviously, homeowners and consumers who are struggling with debt repayment due to unemployment may have options available but these plans will come in very different packages as some may be directed specifically at consumers who are having trouble repaying credit card debts, as an example, or there are some homeowners who may get help when it comes to meeting their mortgage payment, due to the fact that there are areas like these states mentioned above who are still having problems when it comes to homeowners losing their home as a result of joblessness.

However, homeowners who wish to take advantage of foreclosure prevention assistance will have to work with and their servicer, their state housing agency, and they may even have to explore multiple options before the best fit is found for their financial problems, as not all states that are seeing problems with unemployment may have fully implemented Hardest Hit Fund plans, but there are many opportunities that homeowners may be able to take advantage of when it comes to finding more affordable payments on their home loan.

Yet, consumers who are having trouble repaying their debts may be in a position where creditors will offer them financial assistance through either forbearance options, lower payments or interest rates, or other agreements, but advisers often point out that these issues which may prevent a consumer from paying their debts will have to be addressed quickly before unemployment becomes problematic to the point where missed payments begin and a consumer falls behind on their debt obligations.

Why some are concerned about these unemployment assistance plans from housing agencies, creditors, or even mortgage servicers has centered around the high levels of employment that are still being seen on a national and state to state basis, as well as continued troubles in these specific states that have also led to decreases in employment and higher levels of jobless claims. Understandably, not every state is seeing these problems nor are homeowners in these areas specifically in need in all cases, but in instances where consumers are still struggling with unemployment, these assistance opportunities for mortgage payments, unsecured debt obligations, or other types of financing that consumers may have in their lives are continually being explored by consumers here in October, but homeowners and consumers alike are still in a position where not all may know what is available to help them during times of joblessness and financial distress.