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May 16, 2008

Foreclosures take rising toll on mental health

On its front page, USA Today (5/15, 1A, Armour) reports that the current "escalating pace of foreclosures...are creating a range of emotional problems" among homeowners, some "mental-health specialists say."

Distressed homeowners are suffering from "anxiety disorders, depression, and addictive behaviors such as alcoholism and gambling," and in "a few cases," homeowners facing foreclosure have committed suicide. Mental-health professionals are now seeing "more drinking, domestic violence, and marital problems linked to mortgage concerns, as well as children trying to cope with extreme anxiety when their families are forced to move." Even homeowners not facing foreclosure are still "at risk of less-severe, but still significant, psychological distress" as they "worry that they won't be able to make their mortgage payments on time."

Psychiatrists say that "financial stresses...tend to bring pre-existing mental-health issues to the surface. Studies also show a strong connection between financial distress and emotional stress, including anxiety" and depression, which may go untreated for lack of resources. Psychiatrist Joseph Weiner, M.D., of New York's North Shore University Hospital, stated, "Often, there is a dilemma of not being able to afford private mental-health treatment in the midst of a financial crisis."

Related LInks:

- "Foreclosures take an emotional toll on homeowners," Stephanie Armour, USA Today, May 15, 2008.

Posted by admin at May 16, 2008 01:04 PM





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