Job loss now reflected in foreclosure numbers
Photo credit: AP File Photo | Foreclosure signs, a common marker of this recession. (April 2008)
One lawyer calls it "Chapter 2" of the housing crisis: Increasingly, home foreclosures are the result of job loss, not subprime borrowers' getting slammed by resetting variable-rate mortgages or payments they'd have had trouble making even in a healthy economy.
And, experts said, solutions such as refinancing, stretching out loan terms and reducing interest rates are tougher to find when the...
