Gazette Analysis Foreclosures Ripple Effects
Gazette, The; Colorado Springs, Colo. › April 10, 2010
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Summary
When one person loses a home to foreclosure, it's a personal tragedy.
When thousands default, the problems extend beyond property lines and ripple through the community.See the full content of this document
Extract
Gazette Analysis Foreclosures Ripple Effects
In the past three years, record numbers of foreclosed homes have come back into the El Paso County market, undercutting prices of nondistressed properties, leaving homes vacant for months and creating foreclosure fatigue, according to a Gazette analysis of more than 5,000 foreclosed properties during a 28-month period from 2007 to 2009.
How far-reaching is the problem?About half the homes, condominiums and townhomes that go into foreclosure wind up back in the hands of banks and lenders, based on last year's El...See the full content of this document
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