One in 33 homeowners to face foreclosure in the next two years.»

[babylonsister]

http://thinkprogress.org/2008/04/16/one-in-33-homeowners-to-face-foreclosure-in-the-next-two-years/

One in 33 homeowners to face foreclosure in the next two years.»


A new report released today by The Pew Charitable Trusts finds that “one in 33 homeowners is projected to be in foreclosure primarily over the next two years, as a result of subprime loans made in 2005 and 2006.” The report also finds that home values and municipal taxes will drop as much as $356 billion over the same period. “Frustrated by the slow pace of federal action,” nine states are taking steps to help homeowners avoid foreclosure by implementing publicly funded refinance programs.