The credit crunch is really starting to hit home.
The most visible sign of this is the rise in the number of people signing on for unemployment benefit in the county.
But, according to Gerry McHugh, MLA, if they are paying a mortgage, the 10-month delay in getting State help with their re-payments could lead to their homes being repossessed for non-payment of the loan.
The figures for September show an increase of 61 people unemployed from the August figures.
This is the third highest rise in a Council area anywhere in Northern Ireland. Only Coleraine, which rose by 80 people, and Down which increased by 75 claimants, showed a larger jump than Fermanagh during September.
The total number of people now claiming unemployment benefit in the County stands at 716, an increase of 163 (over 20%) on this time last year.
And, with these figures only reflecting the rise during September, it is likely next month's data will make even bleaker reading.
The Independent MLA for Fermanagh-South Tyrone, said those families faced bankruptcy due to job losses and the increase in daily living costs whereby they must sign on for job-seekers allowance, thus incurring a subsequent drop in (combined) income from £800 per week to £90 per week. The loss of their home follows."
He said the Credit Crunch had resulted in severe financial difficulties and hardship for people, not least due to increasing prices for food, fuel and the threat of job losses.
"Home owners in particular have been put under severe pressure due to higher interest rates on mortgages. In addition, the rising incidence of job losses in the County leads, in many instances, to court action for repossession of homes due to a failure to make loan repayments."
Across Northern Ireland, the number of people claiming unemployment related benefits increased by 1,200 during the latest month to 28,900 in September 2008.
This represented the largest single monthly increase in unemployed claimants in over 20 years (since April 1986).
The construction industry accounted for approximately 60% of the September increase.
The number of unemployed claimants in Northern Ireland in September 2008 (28,900) was equal to the level reported some three and a half years ago (28,900 in February 2005).
The latest seasonally adjusted working age economic inactivity rate in Northern Ireland (26.7%) increased from the figure of 26.2% recorded for the previous quarter.
The Northern Ireland rate remained considerably higher than the UK average rate (20.9%) and was the highest of the UK regions.
Mr McHugh said the consequences of the Credit Crunch were of paramount importance to those families facing hardship.
"There is an urgent need for politicians to bring these issues to the forefront of their agenda. As MLA for Fermanagh/South Tyrone, I intend to raise this issue at the Department for Enterprise, Trade and Investment (DETI) Committee.
"I intend seeking the assistance of banking institutions and politicians of all parties in an attempt to work together to alleviate the severe financial difficulties faced by those families, particularly within the property sector."
Commenting on the recent figures, the Economy Minister Arlene Foster said:
"The latest labour market figures show some further increases in unemployment.
"While this is disappointing, it is not entirely unexpected.
"The slow-down in the housing market and wider construction industry in particular is having a large impact, with former construction workers accounting for the majority of the rise in benefit claimants during September."
