Home mortgage A world to learn
An estimated 2. 3 million homes were foreclosed this past year and many analysts predict that the number could reach as high as 10 million in the coming years, if the recession continues. Arizona was ranked number three in the nation for foreclosures. The state is also struggling with the economic downturn, as unemployment was nearly 7 percent at the end of the last year. By choosing Arizona as the place to unveil the details of a plan to help the housing sector, President Obama will be able to reach out to the very people who have been most affected by the economic crisis.