Tag Archives: 3 Hidden Costs of the Foreclosure Crisis

Although U.S. foreclosure activity may be declining, the problem is far from over. There have been 5 million foreclosures since 2007, reports the Center for Responsible Lending, which estimates that between 3 million and 5 million more will occur over the next couple of years. In 2003, one in 38 U.S. home owners were seriously delinquent on their mortgage payments or in foreclosure, but today those numbers are one in 10. Some of the consequences of foreclosures are obvious: family displacements, crime in vacant properties, ruined credit, and the loss […]