In these tough economic times, foreclosure has become a harsh reality for many Americans. Last year foreclosures skyrocketed by 75 percent compared to 2006, with Nevada, Florida, Michigan and California having some of the highest number of casualties.
Some people face losing their homes as victims of predatory refinancing or the subprime mortgage crisis, leaving them trapped in unaffordable loans. Others are unsuspecting renters who dutifully pay on time but find themselves being thrown out on the street with their belongings because their landlords have fallen behind on mortgage payments.
In the video Fighting Eviction, above, a pioneering sheriff in Cook County, Ill., strikes out on his own to give a reprieve to renters caught up in the foreclosure crisis.
If you’re a homeowner, you can take steps to protect yourself from foreclosure.
Join/Renew for Just $16 A Year
- Discounts on travel and everyday savings
- Subscription to AARP The Magazine
- Free membership for your spouse or partner