Foreclosure Freeze Shakes Up Security Clearances — New York Real Estate

Foreclosure Freeze Shakes Up Security Clearances

by John Tayeb on October 26, 2010

Foreclosure fraud

The freeze on foreclosures is putting federal employees with security clearances in a jam.

The government monitors the finances of employees that it believes could be vulnerable to bribery or blackmail. The foreclosure freeze is preventing these workers from settling their debts, so under government guidelines they could lose their clearances.

There are more than 854,000 employees nationwide potentially affected by this, many of them in the Washington, D.C., area. John P. Mahoney, a lawyer at Tully Rinckey, who specializes in resolving security-clearance problems, says many of the affected workers have had security clearances for years.

“Now they are concerned that their clearance will be pulled, or they will be fired because their real estate investments have gone bad,” Mahoney says. “It’s a very emotionally charged issue.”

Source: The Washington Post, Dina ElBoghdady and Dana Hedgpeth (10/20/2010)


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