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Job Loss Could Put One in Three Out of Their Home

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

job Loss 

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.

 

Read Full article at:

http://www.dsnews.com/articles/job-loss-could-put-one-in-three-homeowners-out-of-their-home-2011-09-30

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

561-308-4663 (M)

561-244-0076 (O)

561-422-4829 (F)

Shelda@Sheldahodges.com   www.Sheldahodges.com http://Twitter.com/Experthodges  Blog http://www.experthodges.com

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Comment balloon 12 commentsC. Lloyd McKenzie • December 28 2011 12:19AM

Comments

Not a rosey thought by any stretch. Hopefully the U.S. can pull up the job totals in the upcoming year.

Posted by Chuck Beaumont, Going The Extra Mile... (Royal Lepage Binder Real Estate) over 6 years ago

The loss of a job or the number of people that have been effected due to the economy.  Those who are in Real Estate are not counted in the unemployment numbers because they are self employed not are the contractors.  We do not need to look far to see why people are losing jobs.

Posted by Tim Lorenz, 949 874-2247 (TIM LORENZ - Elite Home Sales Team) over 6 years ago

C.Lloyd:  This is pretty sobering stuff.  Another 9-11 could push the unemployment rate up two or three times overnight. Way too many people are living on the edge of financial disaster.   Let's plan for the worst and hope for the best.  

Posted by Doug Bullwinkel, NMLS #281609 (Envoy Mortgage) over 6 years ago

Good Morning C Lloyd, Tim has a very valid point.  There are many in the industry who are suffering and are in danger of loosing their homes.

I will go leave a comment on Shelda's original post.  An excellent choice to re-post.

Posted by Dan Edward Phillips, Realtor and Broker/Owner (Dan Edward Phillips) over 6 years ago

Good Evening Gentlemen:

Thank you for your very thoughtful comments!  Indeed...if we do not pull ourselves out of this crisis, this country would probably earn the status as 3rd world

 

Posted by C. Lloyd McKenzie, Living Albuquerque over 6 years ago

C Lloyd,

                 We all need to tighten the belt but where so we start this is such a mess and it is so scary!

Posted by Yolanda Cordova-Gilbert, Sitterle Homes (Sitterle Homes) over 6 years ago

Things are not looking so great, but then again there are areas that are doing better than others. I'm looking for a great 2012! No denial here, but i can't work with doom and gloom as it does not make me any money. I am certainly looking to go forward and hope for the best in terms of our economy. ONe way or another i want to be one of the realtors that works and actually is standing when this is over!

Posted by Janis Borgueta, LIC RE Salesperson (Key Properties of the Hudson Valley ) over 6 years ago

It's my wish that we all experience a healthy, happy and prosperous 2012, but realistically, we know not everyone will. We're noticing that we have been busier in the last month or so, and I'm hoping it's a good sign for the coming year. We all need to be wiser with our finances and prepare for that rainy day, but it's really difficult for those living paycheck to paycheck.

Posted by Margo Currie (Exit 1 Stop Realty) over 6 years ago

Good morning C. Lloyd.

When the forest id burned out...New life begins...

It will take time for the economy to recover.

Happy New Year.

Posted by Joshua Zargari, MJ Decorators Workshop (MJ Decorators Workshop LI staging and home decorating) over 6 years ago

C Lloyd

That truly is an alarming number and I do hope people can live better soon

Posted by Tom Braatz Waukesha County Real Estate 262-377-1459, Waukesha County Realtor Real Estate agent. SOLD! (Coldwell Banker) over 6 years ago

C. Lloyd. Job Loss is a very serious problem for many home owners these days. Plus, the fact that many do not have any savings for a Rainy Day. I know since I just lost a deal because the underwriter was not happy with the cash reserves needed by my clients.

Posted by Jerry Newman, Texas REALTOR, San Antonio Military Relocation (Brown Realty, 210-789-4216,www.JeremiahNewman.com) over 6 years ago

Happy Holidays!  Happy New Year!

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Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) over 6 years ago

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