Job losses lead to more foreclosures - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Job losses lead to more foreclosures

By Juan Carlos Fanjul - bio | email

WEST PALM BEACH, FL (WFLX)-- Helen, a city resident, is struggling to find a job.

"I used to be a software engineer," she said.

The struggle has grown to keeping her home. That's why she's at West Palm's foreclosure center trying to modify her loan.

Despite the Fed's assessment Wednesday the economy is slowly rebounding, "I don't see it. New factories, new companies? No I don't see it," replied Helen.

A year and a half ago, when the city opened up the doors to the foreclosure center staffers noticed most people coming in needed to adjust their mortgages because of sky rocketing interest rates.

"But now it's because they are losing jobs. Especially in the Hispanic community. A lot of them had 2 jobs, now they have 1 job and they can't afford it," said foreclosure counselor Priscilla Rodriguez.

She says that's the reason why the number of people needing foreclosure help is growing.

"I started working here in March and my workload has doubled, it's not gone down," added Rodriguez.

For now Helen is hopeful a good-paying job will come along.

She has to be, she doesn't want to loose her home too.

"I have plenty of experience, plenty of education. However, there is a lot of competition," she said.

There is some good news from the foreclosure center. Staffers say lenders are now more likely to help people modify their loans, thank kick them out of their homes.

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