Older Americans taking a big hit in foreclosure crisis
Print this pagePosted on 18 October 2008 by Mark
Permanent URL of this article: http://retirementrevised.com/money/older-americans-taking-a-big-hit-in-foreclosure-crisis
New York Times columnist Bob Herbert focuses today on how foreclosures are impacting older Americans. Herbert cites a recent AARP Public Policy research report that breaks new ground in quantifying mortgage delinquencies by age group. The study concludes that Americans over age 50 represented 28 percent of all mortgage delinquencies and foreclosures at the end of 2007. The report also concludes that older homeowners face a more devastating impact in the crisis, since they have relatively less time to recover from the financial disaster of foreclosure.
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