Help your employee to understand that if they got a loan that they cannot afford, agreeing to a repayment plan or deferring the missed payments is not going to help them in the long run.  If the loan terms were predatory today, they are still going to be predatory later.  Publicize to employees the programs that can help them understand their options.  They might come to find out that demanding new terms may work in their favor.  They might come to find out that  seven years of a bad credit history was worth the foreclosure.  Rents are getting cheap at the moment.

Whatever the outcome for your employee, your organization can stand to benefit in reducing your employees’ stresses by letting them know what types of housing support you might be able to offer.  Retention of a good employee is worth the effort of having a housing agenda within your organization.

This entry was posted on Monday, February 4th, 2008 at 12:01 am and is filed under Human Resources, Consulting, Employee's benefits, Public Policy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.