Foreclosures May Hit 1.5 Million in U.S. Housing Bust


      March 12 (Bloomberg) — Hold on to your assets. The deepest
housing decline in 16 years is about to get worse.         


As many as 1.5 million more Americans may lose their homes,
another 100,000 people in housing-related industries could be
fired, and an estimated 100 additional subprime mortgage companies
that lend money to people with bad or limited credit may go under,
according to realtors, economists, analysts and a Federal Reserve
governor. Financial stocks also could extend their declines over
mortgage default worries.

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One Reply to “Foreclosures May Hit 1.5 Million in U.S. Housing Bust”

  1. When a person is in foreclosure, they are under stress and are probably frightened and worried. They are not sure what they should do to handle their problem. When someone stops paying on their mortgage, they have already stopped paying on all of their other debts. These other debts usually include credit cards and personal loans; the mortgage is always the last thing they stop paying.

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