The Law Offices of Lance Denha Comments on the Recent Drop in New Unemployment Filings

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The Law Offices of Lance Denha analyses the condition of the country’s overall economy with the latest news of fewer unemployment filings and its immediate effect, if any, on today’s struggling homeowner’s.

Reuters reported on October 11, 2012 that the number of Americans filing new claims for unemployment benefits fell sharply last week to the lowest level in more than four and a half years. Initial claims for state unemployment benefits fell to 30,000 to a seasonally adjusted 339,000, the Labor Department said. A Labor Department analyst noted that seasonal factors had predicted a very large increase in claims last week, which he said would be typical for the first week of the calendar quarter. Unadjusted claims did rise, but far less than expected, resulting in the sharp drop in the seasonally adjusted figure.

But a second report released on Thursday hinted at weaker U.S. and global demand. The U.S. trade deficit widened in August to $44 billion, as U.S. goods exports fell for the fifth consecutive month and imports declined fractionally. The stock market has slumped the last few days largely due to a theme that has quickly emerged as the third-quarter earnings season begins. Companies, particularly big industrials, are warning shareholders that the next few months at the very least will be dicey. This is especially true for companies that do business in China and Europe.

The fiscal cliff—the combination of expired Bush tax cuts and required spending cuts, is a potentially bigger issue. Lance Denha, Esq., of The Law Offices of Lance Denha noted that “None of these problems are new. In fact, analysts have predicted the emergence of profit and revenue pressures for some time. “ Thomson Reuters commented last week that a larger-than-expected number of companies have reported disappointing results. Earnings warnings were rising. And, Thomson Reuters said, “Preannouncements are actually a good indicator of what to expect during an earnings season.”

What does all this mean to the homeowner who is currently behind on their mortgage payments or to those on the brink of falling behind? Simply this, any improvement in the overall economy is going to be a long and protracted process. Lenders will continue to push forwarded on filing foreclosures regardless of any potentially good economic news.

As a result, the multiple problems of the slow recovery, the reliance on credit cards and the lack of an emergency fund of any duration place a further burden on homeowners that have been constantly juggling their budget or are falling behind on other obligations in the desperate attempt to remain current with their mortgage or those that have been behind for many months. Lance Denha noted previously that “Unfortunately, the slightest change in their circumstance such as a major home repair, automobile problems, the permanent or even temporarily loss of income can drastically alter one’s situation and payment capabilities. Consequently, any number of prevailing problems from either a personal situation or with the overall weakness in our Nation’s economic stability is still of major concern to many homeowners who are now resting on the edge of the abyss.”

It is highly advisable to seek legal expertise to determine the best course of action moving forward in order to gain an understanding of the particular direction best suited for the client. The Law Offices of Lance Denha P.A. is committed to ensure that every possible avenue is pursed so that the homeowner’s legal rights are preserved. Actively monitoring the ever changing landscape of foreclosure laws, recent foreclosures across the nation as well as state imposed rules and procedures associated with foreclosure, is vital to ensure and protect these rights. The Law Offices of Lance Denha P.A. is a multistate law firm and helps legally defend wrongful foreclosures against homeowners and utilize any and all legal tactics available to help accomplish preserving homeowner’s rights. For further information or assistance, please call at 954-840-0770.

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