FDIC has plan to help unemployed homeowners

September 14, 2009 3:40:17 PM PDT
If you're unemployed and you're having trouble making your mortgage payments, help could soon be on the way. The Federal Deposit Insurance Corporation has a new plan to encourage some banks to reduce payments for at-risk borrowers who are out of a job or under-employed. The payments would decrease for at least six months.

But it's going to depend on which bank holds your mortgage, because the plan mainly applies to regional or community banks that have agreements with the FDIC.