Mortgage Meltdown Continues

This article from the Boston Globe is particularly relevant to our class as we began to discuss the home foreclosure crisis yesterday afternoon. This article, however, highlights the foreclosures in suburban parts of the state which had previously not been hit as hard by the economic downturn. As the unemployment rate climbs, Massachusetts residents who were previously high-income earners now struggle to pay their mortgage bills. It is important to consider the impact of foreclosed homes on individuals and neighborhoods. For individuals, the possibility of foreclosure is daunting and even embarrassing; as we learned in class, it is essential for these people to know their rights. At the neighborhood level, foreclosure breaks down communities and leaves many individuals without a proper support system close to home.