#1 Cause of Foreclosure in the US Attributable to Healthcare Costs

The Social Science Research Network  performed a study to determine the top causes of foreclosure in the U.S.  The result?   The number 1 cause of foreclosure (with almost HALF) is healthcare costs.  To fix the economy and the "foreclosure crisis" the U.S. MUST obviously  address healthcare costs.
Half of all respondents (49%) indicated that their foreclosure was caused in part by a medical problem, including illness or injuries (32%), unmanageable medical bills (23%), lost work due to a medical problem (27%), or caring for sick family members (14%). We also examined objective indicia of medical disruptions in the previous two years, including those respondents paying more than $2,000 of medical bills out of pocket (37%), those losing two or more weeks of work because of injury or illness (30%), those currently disabled and unable to work (8%), and those who used their home equity to pay medical bills (13%). Altogether, seven in ten respondents (69%) reported at least one of these factors.
Get Sick, Get Out: The Medical Causes of Home Mortgage Foreclosures

Popularity: 2% [?]

Be Sociable, Share!
  • more #1 Cause of Foreclosure in the US Attributable to Healthcare Costs

Related posts:

Recent Related Posts