What Causes Foreclosures? | Reason Foundation – And once there, for mortgages heading towards foreclosure there are a number paths the mortgage could take, but no stopping them all. So we see quarterly bank statements hinting hard that the mortgage delinquency problem is not slowing down, despite record low mortgage rates for refinancing or purchasing a home from a family that needs to sell.
Carrington Foreclosure Services – Carrington Foreclosure Services is a full-service trustee company that offers non-judicial foreclosure and trustee services on residential properties in Arizona, California, Nevada and Texas.
What's the No. 1 reason for foreclosure? | HowStuffWorks – In 2007, both subprime and prime mortgages doubled in foreclosures compared to the previous year, with subprime foreclosures rising from 2.7 percent to 5.29 percent, and prime rate foreclosures jumping from 0.41 percent to 1.06 percent [source: christie]. So something may be going on besides subprime mortgage rates resetting at sky-high rates.
Unfortunately, the chickens came home to roost and the mortgage crisis began to intensify in 2007. Home prices stopped going up at a breakneck speed, and prices started falling in 2006. Borrowers who bought more home than they could afford eventually stopped making mortgage payments.
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Why Foreclosure Happens | PropertyRadar Help Center – Why Foreclosure Happens. A great many things have been blamed for causing foreclosures. Having purchased more than 150 foreclosures, talked with hundreds of owners in foreclosure, and having read every study I’ve come across on the subject, there seem to be just a couple of root causes: declining prices, which leave homeowners with negative equity and unable to sell, and certain life events.
How to Fight a Foreclosure in Court: Nonjudicial. – To fight a nonjudicial foreclosure, you’ll have to start a lawsuit. The burden is on you to prove that the foreclosing party didn’t comply with state foreclosure laws or the terms of the mortgage. You meet this burden with the documents you file-typically, declarations or affidavits from you and various witnesses that establish the facts you believe entitle you to stop the foreclosure.
What is a Foreclosure? A foreclosure, for one reason or another, results when a borrower is not able to pay the mortgage. Therefore, the mortgage lender sells the property to satisfy the mortgage.
Subprime mortgage crisis – Wikipedia – The United States subprime mortgage crisis was a nationwide financial crisis, occurring between 2007 and 2010, that contributed to the U.S. recession of December 2007 – June 2009. It was triggered by a large decline in home prices after the collapse of a housing bubble, leading to mortgage delinquencies and foreclosures and the devaluation of housing-related securities.