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The Crisis of Foreclosures

http://cptv.vo.llnwd.net/o2/ypmwebcontent/Catie/Where%20We%20Live%2008-31-2011.mp3

Hurricane Irene, and the string of devastating weather events across the country have taken our focus away from another crisis.

Depending on the analysis you believe, we’re either still in recession, about to head back into another one, or in a painfully slow recovery.  

The prime cause of this economic catastrophe has been known for quite some time - the sub-prime housing bubble that burst sending property values plummeting - and millions into foreclosure.  

Sadly, this is a problem that isn’t getting better fast enough for many in Connecticut and around the nation.  

Today, we’ll talk about new legislation enacted to help Connecticut residents struggling through foreclosure. And we’ll check in with a ProPublica reporter about their latest investigations in the  “Eye On Loan Modifications” series.

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