The government announced a new plan Tuesday designed to help struggling homeowners fighting foreclosure stay in their homes.

Federally backed mortgage giants Fannie Mae and Freddie Mac will work with qualified customers to help people avoid foreclosure.

So far this year, 48,183 people in North Carolina have lost their homes to foreclosure, just 1,514 less than the number for all of last year.

Cory Barnett, a real estate broker with List 2 Sell Realty, is doubtful the federal mortgage assistance plan will even put a dent in the number of foreclosures.

“All the different things – the bailouts and the help – while it is good, I don't think it's the solution to the problem,” he said.

Under the federal mortgage assistance plan, the government will work with homeowners whose loans are guaranteed by Fannie Mae or Freddie Mac.

To qualify, the owner must live in the home, be at least three months behind on payments, and still owe at least 90 percent of the home's value.

To help those homeowners avoid foreclosure, the government could reduce interest rates or extend the term of the loan and defer some of the principal, interest-free.

But critics complain the plan doesn't go far enough and would only help about 20 percent of homeowners facing foreclosure.

“It's a Band-Aid for the bigger problem,” Barnett said.

But supporters said it's a step in the right direction.

“No one program can help everybody,” explained Paul Stock, executive vice president for the N.C. Bankers Association. “Altogether, the different things that the government and private companies are doing can be woven together into a safety net that will protect a broad, broad range of potential foreclosure families from having to go through that process.”

The federal mortgage assistance plan starts Dec. 15.

Financial experts said the most important thing for homeowners to remember is that if they start getting behind on your payments, contact your mortgage company and explain your situation. There are also plenty of housing counselors who can help you.