Unemployed Mortgage Aid Article and question (payment, work, federal, state)

[Hiddeyho]

Can someone tell me why they don't let unemployed persons take advantage of the lower interest rates by negotiating a reasonable rate? I mean 30 year fixed loans for 4.2 % are out there and many can't take advantage of it due to being unemployed.

Yet, they're trying to do a Mortgage Aid program via this article. So do you call your local bank and state that you're unemployed and want to take advantage of the Mortgage Aid program?

How does this work?

Federal Housing Authorities Offer Mortgage Aid for Unemployed Homeowners Facing Foreclosures | Buy Foreclosures Sale Blog And Foreclosure Information

[econprofessor]

No lenders have signed up for this (literally, ZERO) - it's completely voluntary on the part of lenders (as are many of these government housing-aid programs). The program is intended to help pay up to $750 of the monthly mortgage payment. It will not refinance the loan.