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Since 2006, a drop in home prices has wiped out $7 trillion in home equity, the biggest source of wealth for most families.
In Nevada, more than six in 10 homes are "underwater" -- they're worth less than the mortgages on them.
In February, foreclosures surged more in Florida's two biggest cities -- Miami and Tampa -- from February 2011 than anywhere else, according to RealtyTrac.
Foreclosures are up partly because they were delayed last year by a legal fight over lenders that processed foreclosures without verifying documents.
Now, foreclosures are rising again in places like Florida where the housing bust did the most damage.
http://www.delmarvanow.com/article/...ment-down-Obama-s-chances-up?odyssey=nav|head
In Nevada, more than six in 10 homes are "underwater" -- they're worth less than the mortgages on them.
In February, foreclosures surged more in Florida's two biggest cities -- Miami and Tampa -- from February 2011 than anywhere else, according to RealtyTrac.
Foreclosures are up partly because they were delayed last year by a legal fight over lenders that processed foreclosures without verifying documents.
Now, foreclosures are rising again in places like Florida where the housing bust did the most damage.
http://www.delmarvanow.com/article/...ment-down-Obama-s-chances-up?odyssey=nav|head