Tuesday, September 20, 2011

What Happens After Foreclosure?

From American Consumers:

This link will take you to an informative study by the Federal Reserve Board that examines what happens to people after a foreclosure. Based on credit report data from the FRBNY/Equifax Consumer Credit Panel--a nationally representative 5 percent random sample of Americans with credit files--the study tracked individuals who had experienced the start of a foreclosure. Surprisingly, most who experience the start of a foreclosure are still in the same house two years later. Most of the foreclosed who moved ended up in equivalent housing--a single family home in a similar neighborhood.

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