Loans.org's Infographic Shows Impact of Foreclosures on America

    RANCHO CUCAMONGA, CA, April 04, 2013 /24-7PressRelease/ -- One-quarter of homeowners are underwater on their mortgage, meaning that they owe more than the house is worth. This has created an underwater American nation.

In order to illustrate just how deep our nation has sunk, loans.org compiled a heat map of the United States to show the frequency of foreclosures state-by-state. This foreclosure infographic shows the state of our country's housing crisis as it looked at the end of 2012, but fortunately we're much better off than we were in the beginning.

The sweeping wave of foreclosures that began in 2008 has improved, but not drastically. Foreclosures continue to occur across the United States, causing disrepair in their path. In fact, some speculate that one in 200 homes will face foreclosure.

But it's not just homeowners who suffer as a result of this economic epidemic.

The impact of foreclosures on the overall economy is vast. A single foreclosure adds up to $34,000 in direct costs on local government agencies such as the police and fire department, as well as demolition and utility costs. Even lenders lose money, with a typical loss of $50,000 per foreclosure.

For the full article and infographic, please visit http://loans.org/mortgage/infographics/america-nation-underwater.

Additional infographics about the lending industry are available at http://loans.org/infographics.

About loans.org:
loans.org is a leading lending authority website that covers financial news, produces informative articles, and answers frequently asked questions. In addition to providing lending-related information, loans.org also hosts a variety of free online application forms for prospective borrowers to use when applying for loans.

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