{"id":3858,"date":"2012-10-30T12:59:06","date_gmt":"2012-10-30T12:59:06","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=3858"},"modified":"2012-10-30T12:59:06","modified_gmt":"2012-10-30T12:59:06","slug":"home-owners-near-foreclosures-feel-big-loss-too","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/home-owners-near-foreclosures-feel-big-loss-too\/","title":{"rendered":"Home Owners Near Foreclosures Feel Big Loss Too"},"content":{"rendered":"

Home Owners Near Foreclosures Feel Big Loss Too<\/h2>\n
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Home Owners Near Foreclosures Feel Big Loss Too<\/p><\/div>\n

Home owners living near a foreclosed property have faced about $2 trillion in losses to property values, according to a new report by the Center for Responsible Lending, which analyzed the impact of foreclosures on properties within one-eighth mile of a home in foreclosure.<\/p>\n

\u201cCommunities with high concentrations of foreclosures lose tax revenue and incur the financial and \u00a0non-financial costs of abandoned properties and neighborhood blight, while home owners living in close proximity to foreclosures suffer loss of wealth through depreciated home values,\u201d according to the report.<\/p>\n

Home owners who live near a foreclosed property have lost, or stand to lose, about 7.2 percent \u2014 or $21,077, on average \u2014 of their home’s value, according to the report. In minority neighborhoods, the loss was found to be even greater: Home owners living near foreclosures lost 13.1 percent of their home value, or $37,084 on average.<\/p>\n

Source: \u201cForeclosure Fallout Cost Nearby Home Owners $2 Trillion<\/a>,\u201d NBC News (Oct. 24, 2012)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Home Owners Near Foreclosures Feel Big Loss Too Home owners living near a foreclosed property have faced about $2 trillion in losses to property values, according to a new report by the Center for Responsible Lending, which analyzed the impact of foreclosures on properties within one-eighth mile of a home in foreclosure. \u201cCommunities with high … <\/p>\n

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