Get a Fast and FREE Consultation!
Fill out the form NOW!

"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

First name: *
Last name: *
Email: *
Phone: *
Property State: *
Home Value:*
Mortgage Balance: *
How Far Behind: *
Read our privacy policy.

No End In Sight To The Foreclosure Crisis


The foreclosure crisis has been going on for 5 years and there is no end in sight at this time. The Center for Responsible Lending stated that "we are not even halfway through the devastation.  The organization of analysis reported that there were 27 million mortgages that were originated within a 5 year period. Of those 27 millions loans, there have been 6.4% that have already been foreclosed on from 2004 to 2008, and 8.3% that are at immediate, serious risk."
   
The reason that there are so many homes in foreclosure is due to "risky lending." Homeowners that received loans with prepayment penalties, and adjustable rate mortgage are the one who are suffering the most.  The investigation reported that the main reasons we have so many homeowners facing foreclosure was due to "aggressive marketing, dangerous products, and poor underwriting."