Tuesday, March 17, 2009

Faces of Foreclosure

Author/Publisher(s): Consumers Union Read Online: Faces of Foreclosure (offsite) Consumers Union created this series of short videos featuring the stories of people targeted by predatory lending practices and how they were forced by the bad mortgages to make difficult decisions.

Recommendation

At the end of 2008, Consumers Union embarked on a special project to record the video stories of individuals in the United States experiencing a crisis as a result of the mortgage meltdown. This project resulted in the short films titled Faces of Foreclosure—they are the personal stories of several individuals whose experiences reflect the many ways in which abusive mortgages are taking a huge toll on individuals, communities and our economy.

In 2008, 2.3 million properties received a foreclosure filing in the United States. That’s an 81 percent increase from 2007 and a 225 percent increase from 2006 (source: RealtyTrac). Beyond the statistics, these are real people, real families fighting to keep the most precious thing they own. Under pressure to make ends meet to pay their mortgages and feed their children, these are the stories of people targeted by predatory lending practices and forced to make difficult decisions.

Click on the Play button below to watch the video.

Keywords

Foreclosure, Mortgages, Mortgage, Deceptive, Unfair, Housing, Buying Home, Refinancing, Predatory Loans, Predatory Lending

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