Wednesday, July 28, 2010

Foreclosure Hurts Values More Than Bankruptcy

 Foreclosure reduces the value of a home by 27 percent on average, according to a new study from Harvard University and the Massachusetts Institute of Technology.

Other kinds of forced sales have less dramatic impacts, for instance; an estate sale after an owner’s death reduces the price of the home by only 5 percent to 7 percent and a bankruptcy filing cuts the value by an average 3 percent.

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1 comment:

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