2010 United States foreclosure crisis

The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate,[1][2] refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders. The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks—including Bank of America, JP Morgan, Wells Fargo, and Citigroup—responded by halting their foreclosure proceedings temporarily in some or all states.[3][4] The foreclosure crisis caused significant investor fear in the U.S.[5] A 2014 study published in the American Journal of Public Health linked the foreclosure crisis to an increase in suicide rates.[6]

One out of every 248 households in the United States received a foreclosure notice in September 2012, according to RealtyTrac.[7][8]

  1. ^ "Will Bankers go to Jail for Foreclosure-gate?". Time. October 19, 2010. Retrieved October 21, 2010.
  2. ^ "Administration Shifts Focus on Foreclosure-Gate". October 20, 2010. Retrieved October 21, 2010.
  3. ^ Segal, David (October 17, 2010). "White house urges calm on foreclosures". The New York Times. Retrieved October 18, 2010.
  4. ^ LaCapra, Lauren (October 18, 2010). "Foreclosure crisis: home equity loan time bomb". The Street. Archived from the original on October 22, 2010. Retrieved October 18, 2010.
  5. ^ "Investor fears grow over foreclosure mess". Reuters. October 14, 2010. Retrieved October 18, 2010.
  6. ^ Hunter Stuart (19 May 2014). Foreclosures Linked To Higher Suicide Rates: Study. The Huffington Post. Retrieved 20 May 2014; see also: Jason N. Houle, PhD, and Michael T. Light, PhD (17 April 2014). The Home Foreclosure Crisis and Rising Suicide Rates, 2005 to 2010. American Journal of Public Health. Retrieved 26 May 2014.
  7. ^ "California Now Leads U.S. Out of Housing Bust - Bloomberg | Brief". Bloombergbriefs.com. Retrieved January 15, 2013.
  8. ^ Levy, Dan (October 25, 2012). "N.Y. area leads rise in foreclosure filings | Business & Technology". The Seattle Times. Retrieved January 15, 2013.