Where do people go after they are foreclosed upon? There's not a legitimate statistic that I could trust, but here's a data.
: 20% buy another home
: 40% are homeless, living in their vehicle or living in homeless shelters
: 20% move in with friends and/or relatives
: 20% move out-of-State.
Most websites I saw claims that people go to their relatives or friends, others rent a house that is less expensive than their monthly mortgage, and the rest goes elsewhere..
When we use the term "homeless", we're including those who are temporarily living in shelters and other people who are not on the streets. I guess you could call people who moved in with friends and other people could be referred as homeless in a way?