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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. While foreclosure rates since then have fallen ...
Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise ...
Source: Respres. Over the past several years, many people have gotten great deals on homes because of foreclosures. While the inventory of foreclosed homes in the market is not nearly what it was ...
By Brendon DeSimone These are trying times for many homeowners. Walk away from a mortgage? Something that was unthinkable and morally offensive 10 years ago is now an option many people are choosing.
You might spend less on a home purchase if you buy a foreclosure. Read on to see why that may not be so feasible in today's market.
“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]