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America: A Nation Underwater

loans.org presents AMERICA A NATION UNDERWATER in every 810 housing units received a FORECLOSURE FILING in December 2012 4,694 WA 424 71 MT ME ND 2,390 599 875 MN LOR ID 3,682 6,189 2,871 1,205 170 WI NY SD MI MA 3,519 1,457 IA 10,822 PA RI 322 3,404 1,098 NE 11,489 4,119 он ст 1,311 29,925 2,761 57 2,426 NV UT IN IL NJ 1,396 905 1,591 CO VA CA 438 KS MO DE 395 1,959 1,464 MD 2,269 NC 5,099 1,273 TN 933 OK 327 AZ NM AR 7,021 sc 3,130 1,785 222 GA TOTAL NUMBER OF FORECLOSURES PER STATE IN DEC. 2012 TMS 6,967 1,557 TX LA 26,588 FL FORECLOSURE RATIOS IN DECEMBER 2012 "338-600" means between 1 in 338 and 1 in 600 1,501 - 2,500 601 - 1,000 2,501 - 158,749 1,001 - 1,500 338 - 600 HOW FORECLOSURE IMPACTS THE CONSUMER 24% 1 out of 200 of all homeowners are underwater on their mortgage homes will face foreclosure 52% Every 3 months 250,000 new families énter into foreclosure - that's nearly half the state of Wyoming's population every 3'months Over half of Americans live paycheck to paycheck 43% 9. homeowners wish they out of understood their mortgage better of American households spend more than they earn each year 10 32% experience a job loss 85% have already missed one mórtgage payment Most have first-time loans, and most loans are less than three years old 25% Reasons why homeowners are forced into foreclosure experience a health crisis They may have already refinanced two or three times 50% have already missed two payments Most have no savings, no available credit and their extended families have limited resources HOW FORECLOSURE IMPACTS THE ECONOMY 1 fareclosure inmposes up to $34,000 in direct costs on local government agencies: 1 foreclosure can result in as much as an additional $220,000 in reduced property value and home equity for nearby homes unpaid utilities fire department potential demolition trash removal police inspections court actions $34,000 Lenders typically lose Lender losses range from: $50,000 20-60 CENTS per $1 lent or more per foreclosure 2.3 million children were involved in the total number of foreclosures during the housing crisis RESOURCES http://www.realtytrac.com/trendcenter/trend.html http://www.fdic.gov/about/comein/files/foreclosure_statistics.pdf www.ForeclosureHelpandHope.org http://www.freddiemac.com/service/msp/pdf/foreclosure_avoidance_dec2005.pdf http://www.ipl.org/div/stateknow/popchart.html Infographic brought to you by: loans.org ****

America: A Nation Underwater

shared by aritbenie on Feb 21
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America is a nation underwater. The sweeping wave of foreclosures that began in 2008 has improved, but not drastically. Foreclosures continue to occur across the United States, causing disrepair in t...

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loans.org

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Economy
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