Shelda Hodges of Frank Verna PA Real Estate has hit a homerun with her post "Job Lost Could Put One in Three Out of Their Home." This issue should be of grave concern to us as real estate professional. Please stop by Shelda's blog and leave her a comment
Job Loss Could Put One in Three Out of Their Home
This comes as no surprise. The average American has no savings for a rainy day which include Mortgage &/or Rent payments. One months and"Sink". It appears consumers live paycheck to paycheck, & my colleagues commission check to commission check. Its difficult for our more affluent Homeowners as well.
One in three Americans would be unable to make their mortgage or rent payment beyond one month if they lost their job, according to the results of a national survey taken in mid-September.
Job loss has become the primary driver of mortgage/Rent defaults. And With the national unemployment rate holding above 9 percent for five straight months and not expected to drop by any significant measure in the foreseeable future, the state of the labor market is one of the biggest obstacles for struggling homeowners and their lenders.
According to the article a number of programs at both the national and state level have been launched to assist unemployed homeowners, but so far the expected results haven’t materialized.
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Distress Propert Expert - ShortSales & Foreclosures in West Palm Beach & Surrounding Areas. PB County
Shelda Hodges ASREOS RCA CIAS CDPE CFS CSP HRC ASD LDPD HAFA
Frank Verna PA Real Estate
601 Heritage Dr Ste 149. Jupiter, Fl 33458
Areas Served: Albuquerque Metro/ Algodones/ Bernalillo/ Cedar Crest/ Corrales/ Edgewood/ Los Lunas/ Los Ranchos de Albuquerque/ Placitas/ Rio Rancho/ Sandia Park/ Tijeras