In the next two and a half years, it is estimated that 2.5 million homes will be foreclosed on! That comes out to about 25,000 homes every single day!
But that's really just the tip of the iceberg. For every home that the bank takes back in the foreclosure process, there are others that have been bought at a short sale, had a Deed in Lieu arrangement made, or other financing workouts.
The mortgage crisis truly is staggering when you look at the number of lives that are going to be destroyed as a result of predatory lending and an inability on Washington's part to devise a solution to this mess.
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