Jobs jobs jobs. Without one, you simply can't pay your mortgage.

By
Real Estate Agent with JustListedKnoxville.com / Signature Homes

Jobs jobs jobs. Without one, you simply can't pay your mortgage. And that's exactly what the Mortgage Bankers Association said in its Quarterly Delinquency Survey today: "Job losses continue to increase and drive up delinquencies and foreclosures because mortgages are paid with paychecks, not percentage point increases in GDP."

So while you may think the economy is improving a bit, that doesn't mean that the foreclosure crisis is improving.

But what about that government's Home Affordable Modification Program (HAMP) which is supposedly helping hundreds of thousands of borrowers to avoid foreclosure? Well it is, but it's not keeping pace with the problem. http://www.cnbc.com/id/34038967

Comments (1)

Chip Jefferson
Gibbs Realty and Auction Company - Columbia, SC

Hamp is also a very complicated and frustrating process for homeowners. I agree and have been saying the root of the problem is J.O.B's (just over broke) but at least its money.

Dec 02, 2009 12:19 AM