According to a CNNMoney.com article, the average duration of unemployment is 30.2 weeks.
That’s roughly 7 1/2 months.
Frankly I think that’s estimate is a touch unrealistic—it takes much longer than 7 1/2 months to find a job in this market.
Yet if it does take 7 1/2 months to find employment but the modified HAMP plan allows the unemployed six months to get back on their feet, most unemployed home owners may be out of luck.
Would it be too much to ask for the government to align their policies with the real world?
I suppose government friendly policies are only for those that can afford to lobby congress.
The next wave of foreclosures is coming and it’s going to hit everyone very hard.