Few words sting like the ones that inform you that you’re being laid off — especially today, with jobs so hard to come by. If you’re a homeowner, the blow of a job loss can be even worse.

If the S&P 500’s performance is any gauge of Ben Bernanke’s work as chairman of the Federal Reserve, the former Princeton University economics professor would likely get low grades from investors.

The latest mortgage delinquency and foreclosure statistics came out this week, and they weren’t pretty. More than 13% of all mortgages outstanding are either in the foreclosure process or have at least one payment past due, a new record, according to the Mortgage Bankers Association.