LISC's Research Cited in Foreclosure Article
23 Jul 2008
LISC's Research Director Chris Walker states that his research shows nearly half of all mortgages in some neighborhoods were high-cost loans in 2006. These loans, as they reset to higher interest rates, have a greater frequency of entering default and foreclosure. A Washington Post article cites Walker's research, and states that the country's mortgage foreclosure crisis is reversing the progress many cities have made in the past decade. Concentrated numbers of foreclosed homes in neighborhoods lowers home prices and property values and increases vacancies that can destabilize communities.
> Read the full Washington Post article
Article Type: News