Thousands of distressed homeowners sent e-mails and called various agencies requesting for information on President Barack Obama’s foreclosure homes prevention program.

Freddie Mac, the mortgage finance company acquired by the federal government in 2008 to help avert foreclosures, has asked for an additional funding of $30.8 billion to boost its finances as it suffered its 6th consecutive quarterly loss.

About 1,000 families in Orange County, California have been living in motels, many of whom have been forced out of their homes after going into foreclosures. Local officials said it is possible these families remain excluded from government homeless data because motels are supposedly for transients only.

More than 20 people demonstrated outside a convention center in Manhattan New York City to protest the auction of hundreds of foreclosed homes by Real Estate Disposition Corp. It is possible that among these foreclosed homes are tax foreclosure properties.

The U.S. Department of Treasury is preparing to commence implementation of President Barack Obama’s foreclosure prevention program.

Distressed homeowners who do not have at least one-fifth equity in their homes and who usually are not qualified for loan refinancing can still avail of President Barack Obama’s program to stop foreclosures by checking out the program.

Once again evidence of the link between foreclosure homes and unemployment is felt in some states, including Georgia, Louisiana, Texas and New York.

The Obama administration’s program to avert foreclosures has two prongs: a loan refinancing plan for homeowners whose mortgages are owned or guaranteed by Freddie Mac or Fannie Mae and the other, a loan modification plan for owners of homes that have dropped in value significantly. The first prong targets about 5 million homeowners in danger of foreclosures while the second targets about 4 million.

If you are planning to apply for loan modification or restructuring under the Obama administration’s program, be warned about persons or companies offering their services, promising to make the application process easier for you. As the number of lender and tax foreclosure properties increase across the country, the number of creative scammers and swindlers also increase.

David Moffett will resign as chief executive officer of Freddie Mac on or before March 13. Moffett, who replaced Richard Syron in September 2008, said he planned to go back to the financial sector. He was U.S. Bancorp’s chief financial officer from 1993 to 2007.