Foreclosure crisis hits older Americans hard | General Headlines | Comcast According to AARP: _About 600,000 people who are 50 years or older Americans are in foreclosure. _About 625,000 in the same age group are at least three months behind on their mortgages. _About 3.5 million 16 percent of older homeowners are underwater, meaning the home value has gone down and homeowner now owe more than their homes are worth. AARP said that over the past five years, the proportion of loans held by older Americans that are seriously delinquent jumped by more than 450 percent. Homeowners who are younger than 50 have a higher rate of serious delinquency than their older counterparts. But the rate is increasing at a faster pace for older Americans than for younger ones, according to AARP's analysis of more than 17 million mortgages. Americans who are 50 or older are hard-pressed to recover from the collapse of the housing market that started in 2006 and was compounded by the recession that started in 2007. Eight in 10 of them own homes, but many live on fixed incomes, have little savings or have already burned through much of their retirement savings. They also have fewer working years left to build back what they may have lost. And those who are forced to re-enter the workforce often find they can't command the same salary that they did in the past. Like I said Obama has scewed over the middleclass , now he screws over the older class,welcome to Obama world.......you wanted change ,you got it!