Hispanics over 50 are Among the Hardest Hit with Foreclosure Crisis

The pinnacle of the American Dream was becoming a homeowner. However, that dream went bust for many after the subprime bubble crumbled in 2008. At first, minorities and the middle class were the hardest hit by the market implosion; besides these folks, we had no data on how the depression affected the 50+ segment — well, not until now. AARP Public Policy Institute recently published a study called Nightmare on Main Street: Older Americans and the Mortgage. This is the …

Foreclosure Crisis Hits Older Americans

It’s astounding to read the new AARP report about how some 5 million people age 50-plus lost their homes to foreclosure or remain at risk for that terrible ordeal. Read AARP’s report “Nightmare on Main Street” In previous generations, people more often owned their homes outright when they finally settled into retirement. But in the last 20 years, a growing number of people are retiring with mortgage debt. Even people 75 and older, and living on a fixed income, are …

Can the Nation’s Foreclosure Capital Bounce Back?

Susan Milligan is visiting six Election 2012 battleground states to talk with 50-plus voters for a report that will be published in the September issue of the AARP Bulletin. She posted this from Las Vegas. So maybe the unemployment rate here is still above 12 percent. So maybe the housing bubble burst like a nuclear explosion, taking down housing values and leaving legions of homeowners underwater on their mortgages. So what? This is Las Vegas, where most people still believe …

Next States to Vote Are Ground Zero of Housing Crisis

Welcome to the front lines of the housing crisis. Florida and three of the next states to vote in the GOP presidential contest are among the 10 worst foreclosure states in the nation. And there’s not much light at the end of the tunnel: The four states have the highest percentage of homeowners who owe more on their mortgages than their homes are worth. Nevada, which votes Feb. 4, had the worst foreclosure rate in the country in 2011, for …

The Takeaway: Cigarette Labels; COLA; Emergency HUD Loans

Will the new cigarette labels stop you from smoking? The federal government unveiled nine graphic images that appear on all cigarette packs and ads as part of a powerful new warning strategy. What do you think? Are the new labels more “fear factor” than effective? Something else to consider: Smoking linked to more aggressive prostate cancer.

Research: 50+ Crowd Hit Hard By Financial Crisis

A recent study by AARP Public Policy Institute shows that Americans over 50 have been affected by the financial trouble facing the country.