The loss of a home is both devastating for the family and the community. For a family, owning a home is often their only piece of the 'American Pie.' The equity from owning their home is often the only means to secure funding for a new business, college tuition or retirement. For the community, increased foreclosures often turn neighborhoods that once were vibrant into neglected, blighted areas which ultimately raise costs for local governments. In the State of Ohio alone, 90,000 homes are in foreclosure. In fact, one of the things that we often talk about is that working class families usually pass their biggest asset from 1 generation to the next, and that is a house. So not only are we devastating the income and wealth of this generation, we may well be devastating the income and wealth of future generations. Predatory lending is the leading cause of the foreclosures across this country.
Editor's note · Context
Addressing the housing crisis and its impact on families and communities.
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