Tuesday, May 1, 2012

2.3 million American children, or 3%; lost their homes during the recession,

States Where the Most Children Lost Homes

By Michael B. Sauter and Charles B. Stockdale

Some 2.3 million American children, or 3% of them, lost their homes during the recession, according to a recent report. An additional 3 million children are at risk of losing their homes as their families fight foreclosure and delinquency. The consequences are far-reaching as many are pushed into homelessness. These are the states where the most children lost homes.

According to the report, published jointly by Brookings and First Focus, more than half the foreclosures occurred in only 10 states. Similarly, more than half the children who lost their homes live in just 10 states, though not all the states are the same. About 1.7 million of the approximately 2.3 million foreclosed homes, as of February 1, 2011, were in just 10 states, and 1.58 million of the 2.33 million children who lost their homes live in only 10 states.

10. Georgia
> Children affected by completed foreclosures: 3.7%
> Foreclosed homes with loans taken out 2004 to 2008: 8% (tied for 5th highest)
> Children affected by foreclosures: 93,000 (7th most)
> Children in delinquent or foreclosure homes: 4.9% (20th lowest)


9. Virginia
> Children affected by completed foreclosures: 3.8%
> Foreclosed homes with loans taken out 2004 to 2008: 6% (tied for 11th highest)
> Children affected by foreclosures: 71,900 (9th most)
> Children in delinquent or foreclosure homes: 7.5% (8th highest)


 8. Rhode Island
> Children affected by completed foreclosures: 4.0%
> Foreclosed homes with loans taken out 2004 to 2008: 6% (tied for 11th highest)
> Children affected by foreclosures: 9,000 (14th fewest)
> Children in delinquent or foreclosure homes: 6.3% (19th highest)


7. Colorado
> Children affected by completed foreclosures: 4.4%
> Foreclosed homes with loans taken out 2004 to 2008: 8% (tied for 5th highest)
> Children affected by foreclosures: 54,000 (12th most)
> Children in delinquent or foreclosure homes: 8.5% (5th highest)


6. Minnesota
> Children affected by completed foreclosures: 4.5%
> Foreclosed homes with loans taken out 2004 to 2008: 8% (tied for 5th highest)
> Children affected by foreclosures: 57,000 (11th most)
> Children in delinquent or foreclosure homes: 7.1% (10th highest)


5. Florida
> Children affected by completed foreclosures: 4.8%
> Foreclosed homes with loans taken out 2004 to 2008: 8% (tied for 5th highest)
> Children affected by foreclosures: 193,000 (2nd most)
> Children in delinquent or foreclosure homes: 6.4% (16th highest)


4. California
> Children affected by completed foreclosures: 6.2%
> Foreclosed homes with loans taken out 2004 to 2008: 9% (4th highest)
> Children affected by foreclosures: 575,000 (the most)
> Children in delinquent or foreclosure homes: 8.5% (6th highest)



3. Michigan
> Children affected by completed foreclosures: 6.3%
> Foreclosed homes with loans taken out 2004 to 2008: 13% (2nd highest)
> Children affected by foreclosures: 147,000 (3rd most)
> Children in delinquent or foreclosure homes: 7.5% (9th highest)


 
2. Arizona
> Children affected by completed foreclosures: 7.7%
> Foreclosed homes with loans taken out 2004 to 2008: 11% (3rd highest)
> Children affected by foreclosures: 125,000 (5th most)
> Children in delinquent or foreclosure homes: 12.8% (the highest)






1. Nevada
> Children affected by completed foreclosures: 9.5%
> Foreclosed homes with loans taken out 2004 to 2008: 14% (the highest)
> Children affected by foreclosures: 63,000 (10th most)
> Children in delinquent or foreclosure homes: 10.7% (2nd highest)

Nevada’s homes lost nearly 60% of their value during the recession, by far the biggest decline among the states. During the precrash housing boom, more than 540,000 mortgages were taken out in the state. As of February of last year, approximately 75,000 mortgages, a nation-high 14%, had been foreclosed. An additional 75,000 were either in foreclosure or late on payments. More than 9.5% of all the state’s children lost their homes in these foreclosures alone. An additional 10% are at risk of losing their homes because they are either in foreclosure or delinquency. That’s one in five Nevada children whose life has likely disrupted because of the housing bust.

1 comment:

Zumi said...

This post was well written and really appreciable. I am informed if how many children lost their homes. I will recommend this also to my friend.


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