(PRWEB) March 14, 2013
The latest report on the state of the job market offered good news all around, the best reading in months on the state of the economy. The details of the Labor Department’s report released on Friday (March 8, 2013), showed an increase in U.S. employers’ payrolls in February of 236,000 jobs compared to January’s figures. The unemployment rate was down from 7.9% to 7.7% marking one of the lowest levels in nearly 5 years. Private-sector pay rose 0.6 percent as people both worked more hours and at a higher hourly wage.
Lance Denha, Esq., of the Law Offices of Lance Denha notes however that the details of the Labor Department’s report are not uniformly positive. Mr. Denha stated his concern that “Part of the decline in unemployment was caused by the labor force shrinking and people no longer looking for work.” Mr. Denha further commented that “The numbers cover a time before the automatic government spending cuts took effect, which will have hard-to-predict impact on the numbers for March and beyond.”
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. Many people who are looking for work and are poised to return to the workforce may only need to “buy a little time” before being in a position to meet their mortgage obligations and save their home from foreclosure.
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.