Maryland leaders consider program to help fired federal workers manage mortgage payments
MD leaders consider mortgage program for fired federal workers
Maryland is home to approximately 150,000 federal employees and thousands of them have already lost their jobs as DOGE continues to make federal cuts to the workforce. Now, many are at risk of losing their homes and leaders in Prince George's County are looking for ways to help.
PRINCE GEORGE'S CO., Md. - Maryland is home to approximately 150,000 federal employees and thousands of them have already lost their jobs as DOGE continues to make federal cuts to the workforce. Now, many are at risk of losing their homes and leaders in Prince George's County are looking for ways to help.
Local perspective:
It's an uncertain time for federal workers — if they have not already been part of the mass layoffs, many are questioning their job security. This poses not only a problem for how to pay their mortgages but for the lenders that receive the funds.
The Prince George’s County Council passed a resolution to ask Gov. Wes Moore to help families avoid foreclosure. Knowing more job cuts are coming, they are being proactive with this as one of many initiatives. It doesn't forgive the debt but allows the homeowner and lender to have conversations about a payment plan.
"How can we implement it so it is a win-win for not just our federal displaced federal employees but the lender, because there’s going to be money held up that they will not receive," said Calvin Hawkins, Prince George’s County Council Member at-Large.
They have not yet heard from the governor's office but Hawkins said it will likely take another two months to implement and then, in the third month, they plan to be prepared to work with the resident and the lender.
RELATED: Laid off federal workers could get hiring preference in Montgomery County bill
What they're saying:
FOX 5 asked people for their thoughts and found out almost everyone knows someone impacted by the cuts.
"I think it’s a great idea. I mean, if we can keep them in their house and not be homeless, like, that works for me," resident Jason Byrd said.
"One of my friends, she just lost her job two weeks ago and…you know, I imagine she’s going to be struggling," said Nadie Shoenam.
Hawkins said the proposal has been mostly met with support, although there are some that have reservations about the financial impact it will have at the local and state level. But that is where they intend to get the lenders in on the conversation early to work out a plan.