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Subprime Spillover: Foreclosures Cost North Carolina Neighbors $861 Million

March 25, 2008
Mortgage Lending

In this report, we estimate how many homes—including families who are paying their mortgage on time—will suffer a decline in property values because of foreclosures in their neighborhoods. We also estimate how much the average family will lose in home equity, and how much of an impact the foreclosure crisis will have on city and county coffers.