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Financial Literacy Education Program Post Financial Housing Crisis: Community Based Financial Literacy Education Program

Financial Literacy Education Program Post Financial Housing Crisis: Community Based Financial Literacy Education Program

Shanel Lu
Copyright: © 2018 |Pages: 18
ISBN13: 9781522536499|ISBN10: 1522536493|EISBN13: 9781522536505
DOI: 10.4018/978-1-5225-3649-9.ch003
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MLA

Lu, Shanel. "Financial Literacy Education Program Post Financial Housing Crisis: Community Based Financial Literacy Education Program." Engaged Scholarship and Civic Responsibility in Higher Education, edited by Sharon L. Burton, IGI Global, 2018, pp. 49-66. https://doi.org/10.4018/978-1-5225-3649-9.ch003

APA

Lu, S. (2018). Financial Literacy Education Program Post Financial Housing Crisis: Community Based Financial Literacy Education Program. In S. Burton (Ed.), Engaged Scholarship and Civic Responsibility in Higher Education (pp. 49-66). IGI Global. https://doi.org/10.4018/978-1-5225-3649-9.ch003

Chicago

Lu, Shanel. "Financial Literacy Education Program Post Financial Housing Crisis: Community Based Financial Literacy Education Program." In Engaged Scholarship and Civic Responsibility in Higher Education, edited by Sharon L. Burton, 49-66. Hershey, PA: IGI Global, 2018. https://doi.org/10.4018/978-1-5225-3649-9.ch003

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Abstract

As Americans faced financial devastation resulting from the 2008 housing financial crisis, left them in a critical financial hardship. Many affluent suburban neighborhoods now resembled desolate ghost towns as families abandon homes in the middle of the night to avoid ugly snares and embarrassment (Bradford, 2011). Homeowners that once lived in upper middle-class communities achieving the American dream faced the horrifying reality of facing foreclosure, bankruptcies that will force themselves into financial ruin (Bradford, 2011). As a result of the financial housing crisis, 6.9 million homeowners faced mortgage delinquency causing financial institutions to begin foreclosure proceedings (Bradford, 2011; Crotty, 2009). This research focuses on the background to the problem, the underserved populations that were deeply impacted by the financial housing crisis and financial literacy education program that can assist the community toward financial recovery.

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