350,000 Lost Jobs Fuel Foreclosure Rates
CNN reported today, June 6, 2008 that 350,000 jobs have been lost in the past year. In May alone, 49,000 jobs were lost. In order to sustain our economy, CNN reported that 100,000 jobs have to be created every month. Obviously this is not happening, forcing the unemployment rate up to 5.5%, a full 1% higher than last year. This pushes the Foreclosure crisis to new record levels.
| Unemployment Rate Graph | |||||
|---|---|---|---|---|---|
| Month | Year | Rate | |||
| Dec | 2007 | 5.0% | |||
| Jan | 2008 | 4.9% | |||
| Feb | 2008 | 4.8% | |||
| Mar | 2008 | 5.1% | |||
| Apr | 2008 | 5.0% | |||
| May | 2008 | 5.5% | |||
| Source: U.S. Department of Labor Bureau of Labor Statistics | |||||
May, 2008 had the largest monthly unemployment jump, .5% in 20 years. To Prevent Foreclosure, the homeowners must have an income. Without an income, there is nothing to use for negotiating with their lender. Many homeowners find new employment, but only after falling behind on their mortgage. That is where you come in - helping us reach out to those homeowners and let them know that there is still hope to stop Foreclosure on their homes so that they will not have to move.
To learn how you can help by becoming a Certified Loss Mitigation Consultant, or Joint Venture Manager, visit PreventForeclosure.net.
Jim Hutchinson
Independent Certified Loss Mitigation Consultant
Freedom Foreclosure Prevention Services
Posted: June 6th, 2008 under Foreclosure.
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