Maryland leaders are considering a mortgage program to help federal employees who have been laid off or risk losing their jobs due to federal workforce cuts. With approximately 150,000 federal workers in the state, many are facing uncertainty and financial challenges. In Prince George’s County, leaders have passed a resolution to ask Governor Wes Moore for assistance in avoiding foreclosure for impacted families. The program would not forgive debt but would allow homeowners and lenders to work together on payment plans. County Council Member Calvin Hawkins emphasized the need for a win-win solution that benefits both homeowners and lenders, as money may be held up due to the job losses. The program is still awaiting approval from the governor’s office, but officials hope to have it implemented within the next two months. Residents in the area have expressed support for the initiative, with many personally knowing someone impacted by the federal cuts. While some have reservations about the financial implications, county officials plan to involve lenders in the discussion early on to establish a plan that works for all parties involved. Overall, the goal of the program is to help displaced federal workers stay in their homes and avoid homelessness during these challenging times.
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