In addition to the 4.5 million families who lost their homes, the foreclosure crisis had another insidious and long-lasting consequence both to individual consumers and on a broader economic scale. In a new white paper issued by the National Consumer Law Center, author Chi Chi Wu explores the devastating credit reporting problems left in the wake of the Great Recession. The report explores the scope of the problem and offers a variety of policy solutions. Solving the Credit Conundrum: Helping Consumers’ Credit Records Impaired by the Foreclosure Crisis and the Great Recession. [Read more…] about NCLC Issues Paper on Foreclosure Crisis’s Effect on Credit Reporting
