The Foreclosure Slump
The rich get richer and the poor get poorer. The banks, mortgage companies and investors, among others, reaped the benefits of the housing boom and the low interest rates, while lower income families suffered the consequences. For example, in Charlotte the numbers of the less fortunate suffers of the foreclosure disaster look like this. From July 2007 to September 2007, Mecklenburg County reported 2,254 foreclosures, 527 more than a year ago. Statewide, there were 8,762 foreclosures, 3,342 more than last year. Nationally, 635,159 homes went into foreclosure, almost double last year (Charlotte Business Journal). Foreclosures seem so harmless if you are not personally involved in it. This is not true; the affects are felt throughout the in the economy of the surrounding area.
Is greed the biggest contributor to this crisis? Looking back to the beginning of the emanate demise, how did all this get started? In 2003, the interest rates dropped to 5.28% for a......

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Title: The Foreclosure Slump
Approximate Word Count: 2278
Approximate Pages: 10 (250 words per double-spaced page)

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