For years, bad loans and their aftershocks have been sending homeowners into foreclosure. Now it's lost jobs that are putting troubled borrowers over the edge.
As the economy tanks, unemployment is the major factor driving a much larger proportion of foreclosures now than in the earlier stages of the mortgage meltdown.
Friday, November 07, 2008
Job losses causing more foreclosures
According to CNNMoney, a growing proportion of foreclosures are being caused by job losses: