Could Foreclosures Cost Some Feds Their Jobs?

The foreclosure crisis sweeping the country has the potential to do more than just damage the economy and throw people out of their homes: It could cost some federal employees and contractors their jobs.

An inability to pay one's debts can be a factor in denying or revoking a federal security clearance, CNN reports. So civil servants or contract employees in sensitive jobs could face a scenario in which they would be deemed a security risk due to their financial situation.

Foreign agents have been known to capitalize on employees' financial difficulties in an effort to convince them to reveal secrets, offering payments for information.

An Office of Personnel Management spokeswoman told CNN it would probably take more than a home foreclosure to affect an employee's security clearance. "No single fact (e.g. a foreclosure) will necessarily result in a denial of clearance," said Jennifer Dorsey. "Conditions beyond the individual's control can be mitigating."