Job Loss is Top Reason for Foreclosure

From NeighborWorks of America

Washington, D.C. – Today NeighborWorks® America, the administrator of the National Foreclosure Mitigation Counseling (NFMC) Program, announced that more than half (54 percent) of homeowners who received foreclosure counseling through the NFMC Program reported the primary reason they were facing foreclosure was reduced or loss of income. This finding was reported in NeighborWorks’ fourth Congressional report, which reported on NFMC Program activity through August 18, 2009.

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