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Released: December 01, 2011
Foreclosure crisis isn’t even halfway over
Source: Ann Carrns, N.Y.Times (Free Registration)
A new analysis suggests that the tide of home foreclosures isn’t going to recede soon.
The report from the Center for Responsible Lending, “Lost Ground, 2011,” finds that at least 2.7 million mortgages loaned from 2004 through 2008, or about 6 percent, have ended in foreclosure and that nearly 4 million more home loans (roughly 8 percent) from the same period remain at serious risk.
Put another way, “The nation is not even halfway through the foreclosure crisis,” says the report, which analyzed 27 million mortgages made over the five years.
Read Full Article: Foreclosure crisis isn’t even halfway over
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