Foreclosure generation: The long-term impact of the housing crisis on the health and well-being of Latino families

Approximately 1.3 million Latino homeowners are expected to lose their home to foreclosure between 2009 and 2012. To understand the impact of foreclosures on the health and well-being of Hispanic families, the National Council of La Raza (NCLR) and the Center for Community Capital (CCC) at the University of North Carolina partnered with community-based organizations in five states (Texas, Michigan, Florida, Georgia, and California) to conduct 25 in-depth interviews with Latino families who had recently experienced a foreclosure. The findings show the devastating impact on health and wellness that extends well beyond the loss of the physical house, affecting families inside and outside the home. Parents and children showed signs of depression, increased anxiety and tension, and feelings of guilt and resentment were commonplace. Families were left without reserves they could tap into in case of a financial emergency and many skimped on needed medical care to save money. The subprime lending and housing crises will not only decimate collective Latino household wealth, but also have a reverberating effect on the health and wellness of our communities. Our leaders must deploy concrete strategies that better serve communities of color and are proportionate to the depth of the foreclosure crisis in order to preserve the stability and well-being of all Americans.