(NPR) Walking Away: Inside The Nevada Foreclosure Crisis

Almost 1 in 4 of Nevada’s foreclosures involved a decision to walk away from the mortgage even though the homeowners could pay, according to a new study.

The practice is called a strategic default, and it’s at the heart of the ongoing foreclosure crisis in Nevada ”” the state that leads the nation in the number of foreclosures.

Nationwide, the number of Americans who are losing their homes due to foreclosure also continues to mount.

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Posted in * Economics, Politics, Consumer/consumer spending, Economy, Ethics / Moral Theology, Housing/Real Estate Market, Personal Finance, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Theology

One comment on “(NPR) Walking Away: Inside The Nevada Foreclosure Crisis

  1. Bart Hall (Kansas, USA) says:

    The governmental assault on America’s middle class continues, yet the middle class are now beginning to fight back against the last two years of multi-billion dollar cosy deals between big government and politically favored big banks.

    When you start to lose the middle class — who feel trapped between parasites both above and below — you’re flirting with some serious trouble. Mexico has not yet really recovered from the destruction of its middle class during the 1980s Peso Crisis.