Who Is Behind the ‘Toxic’ Home-Foreclosure Campaign?
A new survey from the nonprofit group Real Estate Forward shows that nearly half of homeowners in the U.S. have lost their homes because of the foreclosure crisis.
The survey also found that nearly one-third of those who lost their home due to foreclosure are facing eviction.
According to the report, the majority of homeowners surveyed have either had to rent or are currently without a home.
It is unclear how much of the problem is financial and how much is the result of bad decision-making.
In a survey conducted by the nonprofit, more than half of the homeowners surveyed said they had experienced some level of foreclosure during the crisis.
Among those who did not have their homes taken over, 43 percent had lost their jobs and 29 percent were in foreclosure, according to the survey.
Another 29 percent said they were unemployed, and 7 percent were unemployed or underemployed.
Roughly half of those surveyed said their homes were foreclosed due to some type of health condition.
Another 30 percent said their mortgages had been foreclosed and another 25 percent said it was due to a change in the mortgage company.
More than three-quarters of homeowners also said they did not receive help from a mortgage lender or other financial institutions during the time of the crisis, according the survey, which was released Tuesday.
“When faced with a foreclosure crisis, most Americans are unable to take the necessary steps to protect themselves,” said the report.
“It is time to end the crisis once and for all.
Real Estate forward’s survey shows that the majority are taking action to protect their properties from foreclosure.
The solution to this crisis requires homeowners to get back to work and invest in their home.”
Real Estate Forward is a nonprofit organization that focuses on improving the lives of Americans impacted by the financial crisis.
The organization’s founder and CEO, Michael Krumholz, said the survey showed the nation needs to stop blaming homeowners for the foreclosure wave.
He added, “The vast majority of Americans, when faced with the loss of their homes, are either unable to buy or cannot afford to buy, and that is why it is imperative that the American public has a voice in this crisis.”
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