Report: Foreclosure crisis not even half over

The nation isn’t even halfway through the foreclosure nightmare, according to a report Thursday from the Center for Responsible Lending.

As of February, 2.7 million homeowners who received mortgages from 2004 to 2008 have lost their homes to foreclosure, says the nonprofit agency formed to fight predatory lending.

It estimates that 3.6 million households remain in serious jeopardy of losing their homes.

“The bottom line: The foreclosure crisis isn’t going away,” the agency said in a statement.

Other conclusions from the study, based on an analysis of 27 million mortgages from 2004 to 2008:

Florida leads the nation with 17.4 percent of first mortgages on owner-occupied homes that are seriously delinquent or in foreclosure.

Nearly 20 percent of first loans on owner-occupied properties in Broward County and 19 percent in Palm Beach County are seriously delinquent or in foreclosure.

Read More.

About the author

fluidideas@gmail.com

fluidideas@gmail.com

no Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: