Individual homeowners with adjustable-rate mortgages aren't the only ones hurt by the mortgage crisis. Foreclosures are resulting more vacant homes, decreasing property values in neighborhoods and creating breeding ground for crime.
Have foreclosures affected your neighborhhod? Have you or someone you know dodged foreclosure through last-minute refinancing?
well, my father has had to
well, my father has had to refinance his second home to avoid foreclosure on it. It's a rental property, but it has stood vacant for over 2 1/2 years. The real estate market in Florida has dropped so much that rentals are not filled in houses hardly sell. Shame.