Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Jul 18, 2021

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America is a nation underwater.

The sweeping wave of foreclosures that began in 2008 has improved, but not drastically. Foreclosures continue to occur across the United States, causing disrepair in their path.

Foreclosures are not simple and they impact both consumers and the economy as a whole.

One in four homeowners is currently underwater on their mortgage, meaning that they owe more than the house is worth. On a local level, a single foreclosure adds up to $34,000 in direct costs on local government agencies such as the police and fire department, as well as demolition and utility costs.

In order to clarify the commonality of foreclosures and their impact on the country, loans.org compiled data to show the frequency of foreclosures state-by-state, as well as the states with the highest total of foreclosures in December 2012.

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