Posts Tagged ‘unemployment benefits’

Walking Away To Better Times

Much ado has been made about “walking away” from your mortgage by the financial services industry and the government. They say that it is wrong, that you signed a contract when you bought your home and you should honor it. They promise dire consequences ahead for you if you just walk away and hand your lender the keys to your home.

Homeowners walking away from their homes certainly is a problem for the banks: it causes them to have to face some serious losses and is a gigantic reality check. Banks don’t like reality checks much…they love playing with their funny money.

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Senate Passes 30 Day Unemployment Benefit Extension

With the help of Republican Senator George Voinovich of Ohio, the Senate today passed an amendment that would extend  the EUC program for another thirty days.

Because days were added to the original extension that had already passed by the House,  it now needs to go back to the House for approval there.  Had days not been added, the current extension would be effective for only two weeks.

In the meantime, more and more unemployed Americans are losing their benefits. A longer extension, through the end of the year, is under consideration. Both houses of Congress have passed bills containing an unemployment benefit extension through the end of this year, but have not yet reconciled the two versions of the bills.

Senator Snowe Provides the 60th Vote To Extend Unemployment Benefits Another Month

Along with three other Republican senators, Senator Olympia Snowe provided the 60th vote necessary to move  forward the bill that would extend unemployment benefits for another month (well, actually, only two weeks, now.)  The bill is expected to pass later this week.

This means that if you’re unemployed and in transition between one of the four tiers of available extended federal benefits, you’ll be able to do so for the next two weeks. The bill will also apply retroactively, so that anyone who missed benefits due to the delay will be able to collect them.

A bill that would extend the deadlines to file for extended benefits through the end of 2010 is also in the works. So far, no new tiers of benefits have been created.

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