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The housing crisis that has cost millions of Americans their homes. In fact, banks have foreclosed on more than 4 million homes since the crisis began in 2007. Almost 6 million are still in danger of foreclosure, and some analysts say 2012 could be the worst year yet.
In fact, according to a new RealtyTrac report, the number of homes that received first-time foreclosure notices rose 7 percent in March from the previous month. That reflects stepped-up efforts by banks to take action against homeowners who fail to keep up with mortgage payments. This is even though foreclosures overall are at their lowest level in more than four years.
In CT, the number of homes in foreclosure rose by 38 percent in the first quarter - compared to first quarter last year. That’s one of the highest increases in the country.
Paul Kiel is one of a team of writers at ProPublica who’ve been chronicling the story of the housing and foreclosure crisis. His latest story “ The Great American Foreclosure Story: The Struggle for Justice and a Place to Call Home” - is available on pro publica site and also now on e-book. He profiles a woman, Sheila Ramos, whose story is a microcosm of the issues facing millions of homeowners.
