31.07.2012 - Housing market hits boomers hard
America’s older generation may have paid their financial dues and time in the labor market, but unfortunately they’re not immune to the housing crisis. According to a study by AARP, 600,000 homeowners of the over-50 set are in foreclosure, and about 625,000 are at least three months behind on their mortgage payments. Approximately 3.5 million boomers—16%—are underwater on their mortgages and owe more than their home is currently worth...............................................Full Article: Source
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