Federal Chief Ben Bernanke is requesting that the Government makes serious attempts to address the housing crisis and lower the number of foreclosures.

Bernanke says that both the private and public sector have made a good effort to assist homeowners, but it just isn’t enough. He said he would like for the Government to make improvements to their program “Hope for Homeowners.” He said they could start by lowering the interest rate from its current 8 percent.

As the housing market continues to crumble, and our country comes to grips with a recession, it becomes more clear that something needs to be done. Bernanke says, “loan modification will often be needed to create sustainable mortgaged and keep people in their homes.”