Sunday, August 21, 2011

Debt of the Foreclosed

According to a study by the Federal Reserve Board, individuals who have had foreclosure proceedings begin against them had the following characteristics...

Average age: 42
Median credit score: 562
Median mortgage balance: $152,901
Median credit card balance: $3,498
Median auto loan balance: $15,728

Source: Federal Reserve Board, The Post-Foreclosure Experience of U.S. Households, Raven Molloy and Hui Shan, 2011-32

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