by Meagan Dorsch
Did you know one-third of families in the United States has no net worth or is in debt? Gas prices, rising health care costs and adjustable rate mortgages are subjecting more families to serious financial hardship.
As more people see their adjustable rate mortgages increase, many cannot afford the payments, and are at risk of losing their homes. This increase in foreclosures could have an impact on state budgets as property values fluctuate.
Heather Morton and Mary Fairchild with NCSL talk about what policies legislatures are working on to help families. Some include policies to build wealth, while other focus on protecting consumers from predatory lending.
Listen to our podcast on Helping Families, (5:28) issue number seven on NCSL Top 10 Issues Forecast in 2008. You can read about all 10 issues in our press release or listen to our podcast series.
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