Congress and the President are considering additional bailout funds to keep homeowners from foreclosing on the mortgages. Under the Home Affordable Modification Program, or “HAMP”, about 116,000 homeowners have modified their home loans. However, with trillions lost in home equity, many homeowners have already been foreclosed on because they could no longer make monthly payments due to unemployment. Until they obtain new jobs, they will not be able to afford any mortgage at all and will remain both homeless and unemployed.

The situation is critical in the views of many housing and employment market analysts. They feel that unless the housing market crisis is abated, there can be no increase in jobs, and vice versa. The two problems are very much intertwined.

The chief economist for the AFL-CIO has suggested reinstating a moratorium on foreclosures until the job market is again on solid feet. His view is that this action would force banks and lenders to renegotiate the presently defaulted loans, giving homeowners a way to keep the home. The reform bill that Congress passed in December included three billion to help unemployed homeowners keep their payments current.

Meanwhile, President Obama and his Democratic allies are looking at the possibility of a mandatory loan balance reduction program. This may be the only remaining option to save what will certainly be a greater foreclosure in the coming months.

Additionally, discussions are currently being held regarding the problem of the more stringent financing requirements for buying a new home to replace one that was foreclosed. With a foreclosure on a homebuyer’s credit record, lenders do not want to extend financing to them. Unless some accommodation or loan programs are created for those potential homebuyers, then many of the foreclosed homes will remain empty eyesores on every block in America.

Do you think that you were fired unjustly? If you feel you were let go without cause reaching out to an Unemployment Attorney is a good idea, because a court may agree with you. Unemployment law can be hard to untangle, but the information below is a good start.

First you need to determine if you have a case. Often times this will depend on the specifics of your termination, the laws of your state, and if your employment was “at will” and if your job was a fixed term contract. For example, if you work in Montana and completed your probationary period before being fired without cause, the law protects you; this would be a slam-dunk for a good unemployment lawyer.

Many states may legally adopt “at-will” employment agreements as a part of employment contracts, job applications, company handbooks, job evaluations, or other documents. An employer may legally incorporate these policies; which if signed can allow your employer to fire you at will, and you will not be able to take legal action, even if your being fired was unfair.

Did someone working for your company ever explain that you would have a job as long as you do good work or that nobody who is doing a good job will ever get fired? If that happened, you might have grounds for unemployment attorney.

Even if you worked as an “at-will” employee, a company may not legally fire you because of your gender, religion, race, or age, if you are older than 40. If you suspect the real reason for your termination had anything to do with any of these factors, you will have legal recourse.

If you were employed under a fixed-term employment contract and have lost your job, you may be entitled to whatever benefits your contract called for, which could include: severance pay; bonuses you would have earned if you were still employed; medical coverage; stock options you would have earned; and other benefits. If you were employed under such a contract and did not receive the benefits the contract called for, whatever they were, you may have legal recourse as well.

When Harry Waterson lost his job as a certified auto mechanic at the shop he had worked at for 30 years, the job he had hoped to retire from, he couldn’t find a similar job, so instead he opened DP Automotive, an automotive repair and service shop. Waterson isn’t alone; many unemployed people who can’t find jobs are turning unemployment into a real opportunity, by starting their own businesses, or going to college to prepare for the career they’ve always dreamed of.

Career counselors who are trying to help businesses stay open during the current rough economic times are also busy giving advice to the unemployed who want to open their own businesses. Many people are turning unemployment adversity into a chance to follow their dreams.

“I thought, at this time in my life, I’d give this a go,” Waterson explained. “Anybody can fail, but if you never try, you never gain.”

According to Ms. Bilacroix, the Executive Director of the Kingsport Development & Entrepreneurship, it is not only the unemployed who want to open their own business but also the people who think they might become unemployed. They want a backup job, just in case.

After attending a class on starting a business, Waterson took out a $15,000 loan against his motorcycle to be able to start his business. He had been turned down for financing multiple times. Bankers had constantly asked him how much experience he had in business.

Brynn Bowen, who lost her job at a building supplies company that she had worked at for 35 years, started an office cleaning business out of her home. Even though she now has a full-time job, she likes owning her own business so much; she plans to keep the cleaning business and a lawn service business.

It sometimes takes difficult times to shake people to make real changes.

There are a great number of life altering circumstances that are very stressful, but losing one’s job ranks high. It is not uncommon for joblessness to affect your state of well being. Typically, those that lose their jobs experience a cycle, which includes denial, anger, frustration, and lastly accommodation or adaptation.

Many people become identified by the work they do, so when that work disappears, it is natural for them to feel that a part of themselves is missing. There are a lot of questions that need to be addressed: how long can you sustain myself with no work? Do you need to move into a different career? At the point of loss, it is time to plan for the future.

A period of mourning is very typical after one loses his or her job and when not addressed appropriately, life events can cascade out-of-control: bills begin to accumulate, or payments are late, or neglected altogether. Relationships can become strained. Searching for a new job can be more difficult because of varying circumstances: not having appropriate transportation anymore, or not having appropriate clothes for job interviews, etc., so it is quite possible to see the way events can spiral downward. Insecurity, low self-esteem, and uncertainty are typical in people dealing with joblessness. Even after a person has gotten a new job, it sometimes takes a while until that individual feels stable again.

Symptoms of depression that can occur as a result of joblessness are sadness, fatigue, losing interest in previously pleasurable experiences, isolation, weight loss, sleep disturbances, increase in alcohol and mood altering drugs, and lastly suicidal thoughts. Usually, these symptoms are apparent, but if you are suffering from these symptoms then you need help from a professional.

If you suffer from joblessness then you need to know that your situation is not permanent—even though in the moment it may appear so. Here is a quick, helpful list to cope with job loss: firstly, it is vital you remain realistic, proactive. Perhaps that means seeking new training. Secondly, managing your money is essential, in this dry period; this may mean learning new methods of saving money. Create a weekly and daily routine, one you can adhere. This schedule may be made up of job searching, leisure, and exercise. It is vital to seek emotional support; i.e. reach out to family, friends, therapists, and support groups.

Even though today’s job-market is dreary, setting goals is still essential. People are acquiring jobs, but it is highly competitive due to the recession. Remember that the curtain will eventually lift. In fact, the recession is slowly improving, so with the proper guidance, help, and support you can find strength in these trying times.

Watch as Jim Miller of Bloomberg News, interviews Jim Tice, the chief portfolio strategist for bear markets at Federated Investors. Miller asks about the “big picture” for the market, the economy and unemployment in the future.

Tice states he believes there will be more depression to come as the dramatic aftermath of a credit bubble and too much spending hits home. Housing values are down about 35% and people who haven’t sold their homes are just hanging on because they hope the market will come back.

When asked about $52 trillion in household debt, Tice said we’ll have to work our way out. Banks will fail, some will be nationalized and a lot of people will lose money from all the credit. Tice emphasized that even with all the money spent so far, unemployment remains as high as it was before. Tice predicts the bust will be big because the excesses were big.

When asked where the inflation comes from, Tice said the Federal Reserve is too loose with credit and too comfortable with printing more money and that the government doesn’t really care if consumers can pay it back or not. Tice closed the interview by noting that many of the G-8 countries holding U.S. debts are “worried as heck about our treasuries and our currency.”

With the unemployment rates rising, more and more people are visiting the unemployment office. Places are letting people go left and right. With this many people affected, the number of people that are hired can’t keep up. What many states including California have done is create it so that it is easier for them to do register online and get answers online will increase the amount of time one person can meet with those who need the one on one help.

Everything they need is on one page. They give you the website and you fill out a form. This form is extremely easy to use. However, if you are unable to figure out how to set this up online, you can go to the office and one of them will be able to help you. Then, anything else from checking the status, to finding how much you received or have left from check to check can all be done online.

Does this have any other benefits? Yes, it does. With filing online, you don’t have to worry about postage or it getting lost in the mail. Many people have been told that they didn’t get their unemployment forms when they mailed them in. You also get a reply quicker because they get your form a lot quicker. As you can see, it’s a blessing and one that many should try.

Related Links:

     Unemployment Benefits   File for Unemployment   California Unemployment Office

With the unemployment rate on the rise, more and more people are out of work and faced with the challenge of trying to understand the complicated world of unemployment and how to navigate the online job market. Unemployment.com offers critical resources and information needed to weather this difficult economic climate. We are committed to keeping it simple and providing the most essential tools to help move you from being unemployed to gainfully employed.

How To Deal With Being Unemployed

Coping with unemployment is the first issue you’ll struggle with after losing your job. It’s understandable for job loss to be traumatic, humiliating, and even depressing, but make sure you stay pro-active. The very fact that you are reading Unemployment.com is a big positive step in the right direction.

In addition to staying upbeat, it’s important to get a real sense of your financial health. Start with a list and build this into a larger budget, and turn your anxiousness into useful data. Reviewing all your expenses will give you snapshot of how much money you have, how much you need, and where you have to cut back.

Are You Eligible For Unemployment

If you were fired or laid off through no fault of your own – you usually can qualify for unemployment benefits. You can also qualify if you had to resign due to poor work conditions or harassment.

Filing For Unemployment

Before you submit your claim make sure you check out Unemployment.com’s tip for cutting through the red tape. This way you can get your application processed quicker and get your benefits faster. After you have been approved, you will start receiving benefits, which are about 60% of your weekly pay for about 26 weeks. In the meantime, you are expected to search for job.

Job Hunting Tips

Until you find employment, your full time job is Job Hunting. Update and re-focus your resume on your skills and accomplishments. Upload your resume to the large online job sites like Monster.com and Hotjobs.com.

Be proactive. Set up informational interviews to make new contacts, get advice, and familiarize yourself with the job market. Don’t sit around waiting for your dream job. Create a plan of attack to get that a great job. Sometimes the best way to find a solid position is to start working at a job, prove yourself, and new opportunities will arise.

Job Listings

Online job sites have far surpassed the traditional help-wanted ads in the papers. Searching online provides you with the broadest and most expansive employment opportunities. Plus, employers want to know that you’re tech-savvy enough to find their online listings.

Find Your Local Unemployment Office

Your local unemployment office can be an invaluable resource. This agency exists to help you through your current situation and has dedicated employees trained to assist you. Some of the office’s resources include information about local charities and welfare agencies in case you need a safety net.

Acquiring New Job Skills

The one upside to being unemployed is that you now have the time to gain new marketable job skills. Take advantage of this time and learn skills that will make you a more valuable employee and maybe even give you the chance to switch careers.

How Your Benefits Work

To assist you with the details of unemployment benefits we’ve answered the most frequently asked questions: How can you extend your benefits? Do you have to accept any job you’re offered? Will your benefits be taxed?

Unemployment.com hopes this site will help you navigate through the unemployment process and that you will look back on this chapter in your life as a bridge to the next stage of your career.

Related Links:

      Unemployment Benefits   File for Unemployment Online   Local Unemployment Office
 

The California State Assembly has passed a bill to extend unemployment benefits in California as part of a plan to qualify for federal cash from President Obama’s stimulus package.

After passage by the State Senate and Governor Arnold Schwarzenegger, the bill will make extended benefits of $65 to $475 a week available for an extra 20 weeks. The state Employment Development Department notes the bill will provide additional unemployment insurance benefits to an estimated 76,000 unemployed California workers whose benefits would otherwise run out.

The state EDD will automatically file new extension claims for unemployment claimants who have exhausted regular unemployment benefits and will send them forms in the mail to be completed and mailed back to the department. According to state officials, an estimated 260,000 unemployed people could receive the extended benefits by the end of the year.

Gov. Arnold Schwarzenegger’s office released a statement affirming he would sign the bill when it got to his desk. Republican legislators in Sacramento initially rejected the bill because it could require California to pay for half of the extended benefits instead of using federal funding only. The Republicans also argued they didn’t have enough time to read the bill prior to approval.

Related Links:

     Unemployment Benefits   File for Unemployment   California Unemployment Office

Although different state unemployment agencies around the country can set their own standards, the calendar base period used in calculating unemployment benefits is generally considered to be the first four of the last five completed calendar quarters before an employee first applies for benefits. A full base period is a year long but doesn’t include the quarter that is in progress when the application is made. The amount of wages the employee earned during the base period will determine the amount and duration of unemployment benefits available to that employee.

Since the first four of the last five completed calendar quarters prior to the date of the claim are used as the base period, a claim filed in July, August, or September of 2009 would have a base period of April 2008 through March 2009. For claims filed later in the year during October, November, or December 2009, the base period would be July 2008 through June 2009.

The base period is pushed back several months because the unemployment department receives wage reporting information from employers on a quarterly basis, the delay in information processing causes a lag in the time benefits are paid out. The lag time in payment does not affect long-time steady employees as much as those with shorter work histories who might have to wait until the base period catches up with their employment dates.

Always contact your own local state unemployment office for specific base period calculations before you file for unemployment.

Related Links:

      Unemployment Benefits   File for Unemployment   Unemployment Base Period
 

Michigan, the state with the dubious distinction as having the nation’s worst unemployment rate will keep its tarnished crown after reporting a 12.6% unemployment rate for March 2009. Rising slightly from the 12% rate last reported for February 2009, the numbers show that job losses may have slowed down a bit but the state’s unemployment rate is still far above the national average of 8.5 percent unemployment.

Just one year ago Michigan’s unemployment rate was 5% lower at 7.6%, but the national recession and weakening auto industry based in the state have been steadily pushing unemployment upward at an alarming rate. Figures from the Michigan Department of Energy, Labor and Economic Development show the state’s unemployment claims have risen faster in the last year than in the previous 20 years.

Michigan lost 23,000 payroll jobs in March, with professional and business service jobs down by 8,000. Trade, Transportation and utilities jobs were down by 4,000, while the construction, leisure and hospitality sectors lost 6,000 jobs. Manufacturing in Michigan was steady for the first time in a year and was the only sector to show slight rise in employment in March.

Related Links:

      Unemployment Office   File for Unemployment   Michigan Unemployment Office