Why the Foreclosure Crisis is Getting Worse

[hedda_foil]

1. I had to click through several sites to get to the artcle here:

It's from US News.

http://money.usnews.com/money/blogs/my-money/2012/10/22/worried-about-your-home-why-the-foreclosure-crisis-is-getting-worse

Although the housing market is showing signs of recovery, other indicators show the foreclosure crisis is getting worse. In a September interview with U.S. News, Austan Goolsbee, the former chairman of the Council of Economic Advisers, said, "I think there's a lot wrong in the housing market. If Fannie and Freddie would start enabling people to rent out the vacant homes, that would also help."

Some foreclosure facts:

The mortgage loans which are currently under the foreclosure process, is amounting to almost $45 billion (that is mainly in terms with negative equity)

More than almost 12 million homeowners are currently considered to be underwater, who are still making payments

There are more than 1.5 million of the homeowners, who are at least 50 years or even older and may have lost the home to foreclosure, since the year 2007, when the mortgage crisis actually began.