There’s good and bad news when you consider that a large growth area for job creation is with Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C), and J.P. Morgan Chase (NYSE:JPM), which have hired approximately 17,000 workers so far in 2009 in order to prepare for the growing number of defaults. The majority of those hired are to help restructure mortgages for struggling homeowners.

With over 6.9 million households overdue by more than 30 days in October or being foreclosed upon (over 12 percent of all households in the U.S. with mortgages), needless to say job demand is huge, and that will continue to rise as Alt-A loans due for re-sets explode in the first half of 2010.

This doesn’t even take into account a large, unknown number of people who have stopped paying on their mortgages but who the banks have not went into foreclosure on due to how it would affect their bottom line. In other words it’s a managed process, which doesn’t give an accurate snapshot as to what’s really happening at this time.

Banks know though, and they’re ramping up the hiring in order to meet the huge demand already upon them, and set to rise for months to come.

As far as the jobs offered, they pay from somewhere around $30,000 to $60,000 a year plus bonuses, which in this particular economy aren’t bad at all.

The problem is the more jobs that are needed, the more pain is being suffered by mortgage holders who face an uncertain future as to the house they live in.

From a hired worker standpoint, it’s one of the few jobs offered in a difficult market which includes job security for its duration, as it’ll take time to work through the enormous load of re-set and delinquent loans either out there now or about to be triggered.

One of the leading banks to hire is Wells Fargo, which has added about 7,000 workers so far in 2009, as it’s mortgage exposure is gigantic, with one out of every six mortgages in the U.S. being serviced by them.

Citigroup has also hired a lot of new employees this year, adding close to 1,400. The bank has also opened a new center with 800 mortgage negotiators working the phones.

No matter what the spin, this speaks to the enormous problems out there, and to the reality that they’re far from being solved.