The Real Deal Miami

Foreclosure crisis only halfway done: report

November 17, 2011 03:19PM

The United States is not even halfway done with its foreclosure crisis,
according to a report from the Center for Responsible Lending. Florida
leads the country with a rate of 17.4 percent of all first mortgages on
“owner-occupied homes” either seriously delinquent or in foreclosure.
“The bottom line: the foreclosure crisis isn’t going away,” the CRL said
in a statement. “Families that could have benefited from home ownership
are instead being kicked down the economic ladder, home prices keep
falling and economic recovery remains stalled.” [Sun
Sentinel]