Posted on Friday, May 22, 2009
1 kid in every classroom in American currently lives in a home thats in foreclosure.
43% of us spend more than earn
52% of us live paycheck to paycheck
42% of us don’t have enough liquid assets to support 3 months
Lenders lose 20 to 60 cents on the dollar on each foreclosure. Typically lose $50K per foreclosure.
There are an average of $34K direct local govt costs from each foreclosure (inspectors, police, court, fire, demo, water, sewer, trash)