Scarcity of jobs puts more at risk of foreclosure

[Omaha Steve]

Source: AP

By ALAN ZIBEL and CHRISTOPHER S. RUGABER

WASHINGTON (AP) - The jobs crisis is putting more Americans at risk of losing their homes.

One in 10 households has missed at least one mortgage payment, and more than 2 million homes have been repossessed since the recession began. Few expect the outlook to improve until companies start to hire steadily again and layoffs ease.

And while there was some good news Thursday - a modest decrease in the number of Americans filing for jobless benefits for the first time in a month - the figure is still too high to bring down the unemployment rate.

So the housing crisis goes on, even though the average rate on a 30-year mortgage fell again this week to an all-time low of 4.36 percent.

Read more: http://apnews.excite.com/article/20100827/D9HRHT4G0.html

[Lightning Count]

1. This is actually a news story?!?!!?

Captain obvious called and wants his own by line.

[w4rma]

3. I don't think most of this administration or Congress have read this story. (nt)

[OhioChick]

4. Sad but true n/t

[No Elephants]

7. News, Republican propaganda. Potato, potahto. No difference anymore. Nod and smile.

[tridim]

2. Tell me about it.

sigh.

[Supersedeas]

5. when usury is the only job left in town--what will the Chambers of Commerce do then?

[No Elephants]

8. Continue to profit from international interests, price gouging, worker oppression,

and the like?

Big members of Chambers of Commerce will do just fine. Always have. Always will. I'm worried about the rest of America, though.

They don't find a way to survive without food and shelter and they won't revolt, or even hold elected officials accountable, except very in rare instances, like Dodd and Spectre--and how long did that take?

Bound to end very badly for them.

[No Elephants]

6. Lack of income or propects of income increases risk of being unable to make mortgage payments

on time? Who knew?

Thanks, AP, for bringing to our attention this "news" as yet another way to say "Jobs, jobs, jobs." You do a great job as the "news" service arm of the Republican Party.