At least one job category is showing signs of growth — loan counselors.

In the past few weeks, banks, along with the federal government, said they plan to temporarily stop foreclosures, and amend mortgages to help distressed borrowers to continue making their payments.

Among lenders that have launched loan counseling and modification programs are JPMorgan Chase (which owns Washington Mutual Bank), Bank of America (which owns Merrill Lynch), and Citibank.

And on Nov. 11, decision-makers in Washington, D.C., announced a loan workout program to help borrowers who hold mortgages owned by Fannie Mae and Freddie Mac.

While programs vary, they target borrowers who are having trouble making higher monthly payments after their adjustable rate mortgages reset with higher interest rates.

JPMorgan Chase said it plans to open 24 regional counseling centers and hire 300 counselors in 90 days to “introduce new financing alternatives … to offer prequalified modifications, and commence a new process to independently review each loan before moving it into the foreclosure process.”

Chase spokesman Gary Kishner said counselors would meet with borrowers and review their personal finances to determine where they can scale back so that they can continue living in their homes.

While terms vary, changes to loans could involve deferral of payments on the principle, converting an adjustable interest rate to a fixed rate and/or extending the term of the loan, Kishner said.

Too Little, Too Late

Many critics say loan modification efforts are a bit too little, too late to help the large number of borrowers who are already far along in the foreclosure process or whose loans are no longer owned by the originators of the mortgages.

“It’s difficult because a lot of these loans were sold to investors,” said Mike Perry, chief executive at San Diego Trust Bank. “It’s going to be difficult to find out where that loan is so they can restructure it.”

Hans Ganz, chief executive at Pacific Trust Bank in Chula Vista, said he doubts modification programs would help borrowers who have defaulted on payments and are close to losing their homes. He said the bulk of the foreclosures are nearing a tipping point.

“I don’t see the foreclosures greatly increasing,” he said. “Maybe you’ll see one more month of increases, and after that, you’ll see decreases.”