WASHINGTON — The harsh reality for Murielle Montes and hundreds of thousands of homeowners who are behind on their mortgages is this: A $700 billion bailout of the financial industry will probably do little to help them avoid foreclosure.

House lawmakers are scheduled to vote today on the package, amid intense lobbying from President Bush and industry groups who say the measure is crucial for stabilizing the staggering U.S. economy.

But when it comes to foreclosures, the Treasury Department is only directed to "maximize assistance for homeowners" and write up monthly progress reports.

That's not enough to help Montes, a 46-year-old nursing assistant, who faces foreclosure on the house she bought in Brockton, Mass., three years ago.

She has been working with a housing counselor to modify her loan since February but hasn't had any luck and received a foreclosure notice in August. Meanwhile, the value of her house has sunk from her purchase price of $330,000 to $250,000, she said.

"Where am I going to sleep? Where are my kids going to go?" asked Montes, who immigrated to the United States from Haiti 20 years ago. The government, she said, "should try to buy the loan out so people can refinance ... and everyone can stay in their house."

But in many cases, the federal government's hands could be tied — either because the mortgages are pooled into securities sold in pieces to other investors, or because homeowners don't have the financial resources to stay in the property.

Within 12 to 18 months, roughly 40 percent of U.S. borrowers, or 20 million households, will owe more on their mortgages than their homes are worth, according to Deutsche Bank. The problem will be most severe in California, Nevada, Florida and Arizona, where housing prices soared and reckless lending practices were rampant during the housing boom.

That's almost the same number of American households that are spending 30 percent or more of their income on housing, according to recent U.S. Census data. With little cash cushion or home equity, the slightest financial problem — an increase in gas prices, medical bills or car repair — can put a family behind on their mortgage and into the realm of foreclosure.

"Only a small portion of problem loans" can be saved, said Deutsche Bank analyst Karen Weaver. "It doesn't always work. ... In some cases the lender is better off just taking back the property and just selling it."