By September last year, about 700,000 boomers had homes in foreclosure, according to AARP. The number represented more than a quarter of the total number of foreclosures or delinquencies in the nation.
As to whether those in foreclosure should be helped by federal funds, opinions are roughly split down the middle, with a majority (51 percent) of Americans saying “no” to a bailout, according to a January survey by Reecon Advisory Report.
“As a new Federal foreclosure policy unfolds in the months to come, public opinion will certainly play a central role,” said David Lereah, president of Reecon Advisors Inc., an independent real estate economics and information company. “The outcome could shape the real estate markets for many years to come.”