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Buying foreclosed homes soared in popularity during the Great Recession as a wave of foreclosures hit the market and drove down prices nationwide.
Foreclosed homes often come with a variety of repair and financial issues that can add up to major expenses. Before starting your property search, make Hidden costs of buying foreclosed properties
Buying a house is one of the most significant financial decisions you could ever make. The things that may make you love or hate a house vary from person to person. Check Out: Should You Consider ...
The alleged problems regarding foreclosure fraud were so widespread and popularized by the media that U.S. Congresswoman Maxine Waters announced that the United States House of Representatives subcommittee on housing issues will hold a hearing on November 18, 2010 to examine problems emerging in the mortgage servicing industry.
[3] [4] The foreclosure crisis caused significant investor fear in the U.S. [5] A 2014 study published in the American Journal of Public Health linked the foreclosure crisis to an increase in suicide rates. [6] [7] One out of every 248 households in the United States received a foreclosure notice in September 2012, according to RealtyTrac. [8] [9]
“Foreclosure floodwaters receded somewhat in 2010 in the nation’s hardest-hit housing markets. Even so, foreclosure levels remained five to 10 times higher than historic norms in most of those hard-hit markets, where deep fault-lines of risk remain and could potentially trigger more waves of foreclosure activity in 2011 and beyond.” [30]
Getty By Christine DiGangi Foreclosures on U.S. housing units continue to decline, falling to a nearly 10-year low in January, according to real estate data company RealtyTrac. Last month, there ...
The foreclosure process begins when a financially distressed homeowner fails to make a loan payment and is served with a summons from his or her creditors. After service, papers will be filed with the county clerk's office and be made a matter of public record (in some areas the place where deeds and mortgages are registered may go by a different name, such as the office of the land registrar).