The Connection between Bad Credit, Unemployment and Foreclosure

The Connection between Bad Credit and Foreclosure

Over three million Americans have lost their home in 2008 alone. That number has increased significantly already in the first quarter of 2009. What does foreclosure do to one’s credit report? The answer is: destroy it for approximately seven years. A lot of Americans lost their job and as a result lost their home. The result is terrible credit. This limits one’s ability to get a job. It’s a reality our government needs to address if it’s attempting to get Americans back to work.

Government jobs, contracting jobs and a large amount of private sector jobs in the DC metropolitan area require credit checks.

Where are millions of Americans expected to live with no job and bad credit? Even the underemployed can’t find a rental opportunity due to bad credit.

Americans watch as “bad assets” are removed from irresponsible/criminal banks so they can survive yet absolutely nothing is done to remove bad credit from single parent mothers such as myself to help my family survive.

Please advise.

Sincerely,


Hardworking, college educated, tax paying American