News

Multiple foreclosures hurt the surrounding neighborhood

Multiple foreclosures hurt the surrounding neighborhood, cost states and localities enormous sums of money in lost tax revenue, and prompt deep cuts to critical public services. Nearly half of foreclosures are in just 10 percent of the nation’s census tracts. One-quarter of foreclosures or at-risk loans are in low-income neighborhoods, while 20 percent are in minority neighborhoods. (Center for American Progress)

Foreclosures have massive spillover costs

08/29/2012