US Cities With The Highest Unemployment Rates
Experts may say the recession is officially over, but many Americans are still struggling to stay in their homes. As of August of 2010, one home in America is foreclosed upon every 13 seconds. That adds up to more than 6,000 foreclosures every day.
Certain parts of the country are feeling intense pain. In Nevada, the foreclosure rate is above 1 percent. Florida, Arizona and California aren't far behind, as owners there simply can't afford the mortgages on their homes anymore.
Why so many foreclosures? There are many factors. The unemployment rate has remained high. Property values have dropped leaving many mortgages “underwater” with the outstanding loan costing more than the house is worth. Plus, many people who had adjustable rate mortgages aren't able to keep up with their new, higher rates.
Are you struggling with you mortgage? Have you considered filing bankruptcy to stop foreclosure and protect your home? Is secure home ownership still part of the American dream?
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