Besides earning less than they did in a previous job, these homeowners often have accumulated debt, and if they are living in an area where home values are depressed, they have the added burden of watching their home equity shrink. Both factors can adversely affect their ability to qualify for a refinancing.
Last month, eight million people worked part time involuntarily because their hours had been cut back or they couldn’t find full-time work, according to a recent report by the Bureau of Labor Statistics, which reported separately that of those who did find full-time work, one in five earned at least 20 percent less.
The “grave” condition of the job market led the Federal Reserve to announce recently that it would institute an economic stimulus plan in which each month it will buy $40 billion in mortgage-backed securities.

The Law Office of Susan J. Salehi has helped 1000’s of people like yourself with Chapter 7 and 13 bankruptcies since 1992, both in the Santa Barbara/Ventura and Kern County areas. We offer a free consultation, reasonable rates and payment plans. All of your options will be explained during your free consultation with the attorney at the Law Offices of Susan J. Salehi. We ask that you bring six months’ proof of income (paystubs/rent receipts/profit and loss statement if self-employed), the last two years’ tax return, a credit report – free ones are available at www.annualcreditreport.com, any foreclosure notices, lawsuits, and correspondence from the IRS or FTB if you owe pastdue taxes.
Calltoday for a free, no-obligation consultation, contact us through our website at salehilaw@aol.com. Start at only $999 Attorney Fees. Restrictions Apply. Stop Foreclosures with a Chapter 13. Operators 24/7. (805) 654-1467, (818) 880-8305, (661) 631-0252, (805) 202-4688.
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