Foreclosures
Foreclosure is a situation in which a homeowner is unable to make principal and/or interest payments on his or her mortgage, meaning that a lender can seize and sell the property (as stipulated in the terms of the mortgage contract). Foreclosures are an indicator of economic stress, and may lead to the dislocation of families and children, abandoned properties and other concerns.
Source: The ROOF Project.
Understanding New Haven: Housing in Greater New Haven
