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Legal aid groups are expected to have foreclosure offices in the courts to handle the influx.
In fact, he said, most lenders and mortgage service companies have foreclosure prevention departments.
"We have sewer problems, we have drainage problems, we have foreclosure problems, we have things that we need to be focusing on, and street renamings are not one of them," she said.
To give a sense of scale, hard-hit markets have foreclosure rates in the 3% or 4% range.
Similarly, higher-income African Americans have foreclosure rates twice that of higher-income white borrowers.
We've pushed the banks hard to keep responsible families in their homes -- and because we have, foreclosure notices are down 45percentt since early 2009.
Similar(52)
We have foreclosures, we have divorces.
We have housing prices continuing to decline, and we have foreclosures at record levels.
They must not have foreclosures in India, because they didn't know what they were doing".
"How do you explain a bank bailout when you have foreclosures on Main Street?" Mr. Rajan said.
With relatively low unemployment, high-end addresses don't have foreclosures to hasten capitulation.
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