Unemployment Leads to More Foreclosures Across the Country

June 23, 2009

A new wave of foreclosures is affecting areas of the country not previously hard-hit by the mortgage crisis.  USA Today reports that these foreclosures are different from the foreclosures at the beginning of the mortgage crisis in 2007.  Instead of being caused by risky subprime lending, the recent increase in foreclosures is due to rising unemployment.  In the ongoing economic recession, more and more people are losing their jobs and are unable to keep up with their mortgage payments.

To learn more about how unemployment is affecting the housing market, you can read the entire article HERE.  If you or someone you know is facing foreclosure, contact a HUD-certified counselor.  To find one, call United Way’s 2-1-1 referral service at (800) 427-4626.  2-1-1 can also connect you with resources and information about employment, food, health care, counseling, and other services.

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Foreclosures Increase for Prime Borrowers

June 9, 2009

Since the beginning of the mortgage crisis, many experts have blamed the explosion in foreclosures on risky sub-prime loans.  But USA Today reported recently that the rate of foreclosure for prime borrowers has been increasing, mainly because of rising unemployment rates.  To read the rest of the article, CLICK HERE.

If you or someone you know is facing foreclosure, contact a HUD-certified housing counseling agency to seek help.  To find one, call United Way’s 2-1-1 Referral Service at (800) 427-4626.


USA Today: Managing your health through crisis

February 4, 2009

This week an article appeared in USA Today that highlighted the effects of the economy on our health.  When times are tough, stress levels increase and many people experience depression. 

 

Our partners have said that in times like these it’s easy to overlook your health—when you’re dealing with financial troubles, they are at the front of your mind.  St. Louis is one of the areas hardest hit by the mortgage crisis, and to make matters worse the unemployment rate here is rising.

 

On our one-hour call-in show which aired January 27th, Carter Whitson, Project Director for the St. Louis Mental Health Board, was featured.  Mr. Whitson believes seeking help is the key.  With the economy the way it is, it’s easy to stop taking care of yourself, to let stress overwhelm you, and to fall into depression.  As our community struggles through this financial crisis, resources are available.

 

For mental health support go to www.providentstl.org or call their crisis hotline at (314) 647-HELP (4357) or their toll-free number at 1-800-273-TALK (8255).

 

 

To see the USA Today article click on the picture below.

USA Today