With just $0.05 a day, this Blueprint will make us strong, firm warriors in the battle to end poverty-->

Truth is in favor of you and me; for the truth of our enemies whom we have been serving here in the U.S.A. for over 400 years (whom we did not know to be our enemies by nature) is the truth that the Black Man must have knowledge of to be able to keep from falling into the deceiving traps that are being laid by our enemies to catch us in their way which is opposed to the way of righteous of whom we are members. ~ The Honorable Elijah Muhammad

Sunday, December 30, 2012

The spillover affects and costs of foreclosure

 “Our wonderful neighborhood has changed right before our eyes and we keep waiting for some super hero or government agency to come and fix things but it isn’t happening. We would move too but we owe more money on our home than it’s worth. So we’re stuck,”

Foreclosures across the United States have drained nearly $2 trillion in property value from surrounding households, more than half of it from Black and Latino homeowners, according to a new study from the Center for Responsible Lending.

The $2 trillion figure estimated in the report represents only part of the total cost of foreclosures, since the spillover costs do not include equity lost by families who are foreclosed on, nor the billions of dollars drained from communities as a result of lost tax revenue, vacant properties, increased crime, and lower school performance by children.  The Final Call... 

Enhanced by Zemanta


Know4LIFE's Raw Info. is a blog designed to bring alternative news and information that is relevant to the Black and disadvantaged communities. As such, any and all views and opinions expressed herein, regardless of authorship, do not represent the views or opinions of any author's employer or people, institutions or organizations that the author may or may not be related to or affiliated with unless explicitly stated otherwise. Raw Info. includes links to other sites/blogs operated by third parties. These links are provided for convenience and informational purposes only. As such, the information, opinions, products, and/or services contained therein do not reflect the views and opinions of or represent endorsement Know4LIFE. All images that appear on Raw Info. are under the copyright of their respective owners. Know4LIFE does not claim credit for any image unless explicitly stated. If you own the rights to any image appearing on Raw Info. and do not wish for it to appear, please notify Know4LIFE immediately and the image shall be promptly removed.