Owning a home is the primary means by which low-income Americans build long-term assets and increase family wealth. In recognition of those benefits, federal policy has encouraged low-income homeownership, which has climbed to 46 percent.
Yet for all of its benefits, maintaining a home over the long term presents special challenges, especially for families with low or unstable incomes, little savings, minimal experience with mainstream financial institutions, or a home in need of extensive repairs. Foreclosure prevention strategies are vital to sustaining homeownership for low-income families.
Report: Dreams Foreclosed: The Rampant Theft of Americans' Homes Through Equity-Stripping Foreclosure 'Rescue' Scams, May 2005, PDF (4.7MB)
Background Information and Resources - with audio and streaming video report
Higher Interest Rates Are Forcing Housing Foreclosures Across The Country, PBS Online NewsHour (originally aired on June 6, 2006)
Thanks to Justin Cooper, Cooper, Cooper & Cooper Appraisal Services for finding this great report.
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