Foreclosure datapoint of the day

By Felix Salmon
August 18, 2009
it works the other way round too:

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We knew that medical costs can lead to foreclosure. But it turns out it works the other way round too:

Nearly half of people studied while undergoing foreclosure reported depressive symptoms, and 37 percent met screening criteria for major depression, according to new University of Pennsylvania School of Medicine research published online this week in the American Journal of Public Health.

This is surely one reason why loan modification is hard and time-consuming: you’re dealing with people who are, in many cases, clinically depressed. But it’s also a reason why there’s a strong public interest in minimizing foreclosures and making sure those loan mods happen.

(Via Marr)

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