government foreclosure program, government help with foreclosureThe government foreclosure program shows a lot of promise for people who are either upside down in their homes or have a bad loan. Being able to get government help with foreclosure now will keep millions of people in their homes and slow the rate of foreclosure or short sales that have clogged the housing market. There are simply too many homes on the market right now that are pushing down home values, so all eyes are on statistics that will be released throughout 2009 to see how well the government foreclosure program is helping both homeowners and the housing market. These will be lagging indicators but important, nonetheless, to see how the market improves with the help that the government foreclosure program claim they will provide.

It is so important to stop all the foreclosures right now because falling home prices have caused many families to lose wealth, especially those who bought at the top of the market. It's very likely that these people are upside down in their homes and felt stuck because they had few options except for staying put and toughing it out, walking from their homes and ruining their credit, or selling as a short sale which can take a long time. Now with the mortgage bailout programs are in place, these borrowers have much better options.