Study: Foreclosure surge hits New England renters hard
WASHINGTON -- Lease-abiding renters in four New England states are losing their homes to foreclosure as fast or faster than single-family homeowners who default on mortgages.
That's the conclusion of a report released Wednesday by the Washington-based National Low Income Housing Coalition.
The report examines Massachusetts, Connecticut, Rhode Island and New Hampshire, which have large numbers of two- and three-family homes and apartments.
The NLIH estimates at least 45 percent of the housing units in the final stage of foreclosure in those four states were occupied by renters whose landlords were behind on payments.
The estimate is based on foreclosure data covering all of 2007 and the first three months of this year.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
