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Housing programs and extended unemployment benefits have given many people a glimmer of hope and some much needed relief. Of course, with the growing number of bad mortgages and claims for unemployment, it’s no surprise the demand for assistance is expected to surge. But many of these programs will also soon expire. The question now is are they worth continuing?
While these programs haven’t solved everyone’s problems, they have made a dent. So far in 2009, over 357,000 new home owners have taken advantage of the $8,000 tax credit for first-time buyers. Extending unemployment insurance has also helped millions of folks avoid hitting absolute bottom. But with mortgage programs coming to an end and September unemployment hitting a 26-year high of 9.8 percent, the fear that people will stop spending again is a very real one. With this in mind, the Obama administration is considering another extension.
Until then, there are things you can do today to keep up with payments, find a job, and stay afloat. Check out The Beehive for more information and help with housing and unemployment.
