US suburbs become face of foreclosure

By Hal Weitzman in Kendall County

Published: August 24 2009 13:33 | Last updated: August 24 2009 17:03

Apart from the piece of paper in the window, the house looks like every other Midwest suburban home in the Lakewood Springs development in Plano, a small town about 50 miles west of downtown Chicago.

But the sign makes clear the house has been repossessed by a local mortgage lender and warns against trespassing. Bob Hausler, Plano’s mayor, reads the notice aloud and then pauses. “People lose their jobs, then they lose their homes,â€