government foreclosure program, government help to stop foreclosureObama revealed the new government foreclosure program that has been designed to help homeowners stay in their homes if they are either behind in payments or underwater. These homeowners will have to qualify for the lower payments, so not everyone who needs help will be getting it. For people who are seriously underwater financially, the government foreclosure program won't work, but those are people who should be in less expensive homes or apartments anyway. For owners who qualify, payments will be set to 31% to 38% of their total household income.

This government help to stop foreclosure is a smart measure. It's foreclosures that got us into this troubled economy, and stopping them is really the best way to get the economy back on its feet. The foreclosures cost everyone except the handful of REO management companies and their suppliers. The foreclosed homes have contributed to a significant loss of net worth in this country for just about everyone, so it's wise for the government to change some of the rules and help people keep their homes.