Have rich or poor homeowners been more likely to suffer foreclosure? It depends on which part of...

|By:, SA News Editor

Have rich or poor homeowners been more likely to suffer foreclosure? It depends on which part of the country you're in, a new study says. Low- and moderate-income borrowers have been most affected in cities such as Detroit and Cleveland, where home prices didn't rise much. But in areas with strong housing appreciation before the collapse, such as California and Nevada, the opposite is true.