Foreclosure.jpgAccording to a recent study, people are happier in poverty than facing foreclosure. Close to 1 out of every 2 people struggling to find somebody to modify their mortgage needs a serious pick-me-up.

Researchers at the University of Pennsylvania School of Medicine questioned 250 homeowners going through foreclosure in Philadelphia and found that 47 percent showed symptoms of depression, with 37 percent exhibiting signs of major depression. The rate was especially high considering previous research showed that only about 12.8 percent of people living in poverty were depressed, the study found.

However, for those worried that there won’t be a white knight to help them keep their home, help is on the way. The bank that Fox-Pitt Kelton analyst David Trone said could lose up to $68.6 billion through 2010 stemming from bad loans, Citi, is adding 1400 people to its mortgage unit to expand its book of delinquent borrowers. So cheer up people, Vikula has got you covered.

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Comments (8)

  1. Posted by guest | August 25, 2009 at 12:15 PM

    87% of readers of this post are depressed.

  2. Posted by Anal_yst | August 25, 2009 at 12:16 PM

    no surprise, people are more miserable having had and lost than having never had at all
    @1, nice

  3. Posted by guest | August 25, 2009 at 12:23 PM

    100% of people with the name “Lenny Dykstra” are depressed.

  4. Posted by guest | August 25, 2009 at 12:30 PM

    Greg, please find some new goddamn pictures, you lazy motherfucker!

  5. Posted by merkin capital partners | August 25, 2009 at 12:31 PM

    i hope they followed the diagnosis with, “so you should probably kill yourself”. Some people can’t read between the lines, you gotta spell it out.

  6. Posted by Mark Klein MD | August 25, 2009 at 1:09 PM

    Collegues I’ve spoken with make me think these researchers are on to something. The solution is easy: make Citigroup pay for all these homeowners’ antidepressant and blood pressure drugs. I would like to know how many of the bankers that sold these mortgages are suffering bouts of depression on their yachts right now.

  7. Posted by guest | August 25, 2009 at 1:28 PM

    @6 you suck

  8. Posted by guest | August 25, 2009 at 2:06 PM

    @6 GTFO

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