Losing a job speaks for itself in relation to a foreclosure.
The job market has been challenging for certain industries ever since the late 2000s, the coronavirus pandemic, and historical rates of inflation more recently.
While some people are able to find a job rather quickly after losing theirs, others are left without a job for several months at a time, especially in industries who have seen their demand decrease due to technology or shifting consumer preferences.
These people may find themselves needing to take a job that pays less simply to secure an income to cover necessities, and this may compromise their ability to afford their home.