Virtually all of today's home sales and mortgage refinance statistics are extremely positive, primarily due to the record-low home mortgage interest rates. Yet, home mortgage foreclosures statistics are also high in many communities, despite a robust national home sales market. But just a few weeks ago, HUD (U.S. Department of Housing and Urban Development) held a nationwide auction of more than 4,000 of its FHA-foreclosed houses. Why the disparity in near-record home sales and refinancings coupled with huge numbers of foreclosures? There are many reasons. WHAT CAUSES HOME FORECLOSURES? As a long-time investor in houses at various stages of the foreclosure process, I've learned there are many reasons why some homeowners stop paying their mortgages. Statistically, less...
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