Former homeowners go the rental route 

Flickr photo by frozenchipmunk.

With about 1 million homes in foreclosure at the close of the second quarter, according to a Treasury Department report released last week, the American dream is going into reverse at bewildering speed for homeowners across the country.

For some former homeowners, renting provides financial relief or a new beginning. And while those interviewed for this article became renters for different reasons, they all plan to be owners again.

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