Consumer Law

As Foreclosures Escalate

By Sam Glover

“By the time the Senate returns next Monday from its July 4 recess, some 55,000 more homes will have entered foreclosure. And that?s hardly the full picture of the growing calamity. More than three million homeowners are currently at risk of default and millions more are expected to join them in the coming year as home prices drop, the economy falters and delinquencies rise. Yet the Senate went ahead with its vacation last Friday without passing a foreclosure prevention measure.” As Foreclosures Escalate | New York Times (via Consumer Law & Policy)

Full post as published by Caveat Emptor on July 02, 2008 (boomark / email).