Foreclosure Crisis

Filed Under » , ,
Dictionary Says

Definition of 'Foreclosure Crisis'

A period of unusually high home foreclosure rates that caused high uncertainty in the housing market from 2008-2010. During the crisis, the number of foreclosures rose so high that banks were unable to process all of them properly. In many cases, banks were so overloaded that foreclosure proceedings would not be initiated for many months after the homeowner stopped making payments.
Investopedia Says

Investopedia explains 'Foreclosure Crisis'

The process for recording the transfer of ownership for mortgage notes was overly lax during the housing boom, leading to difficulty in proving whether a bank even had ownership of the mortgage being foreclosed. Due to the widespread nature of these problems, banks halted all foreclosures in certain states for months until proper documentation could be assembled.

Articles Of Interest

  1.

    Are You Living Too Close To The Edge?

    If a missed paycheck will make your finances cave in, you must learn how to make proper supports.

  2. Foreclosure Opens Doors For Real Estate Investors

    Learn how to spot hot properties that you can turn around for a profit.

  3. Saving Your Home From Foreclosure

    Learn the tactics you can use to prevent your home from being repossessed.

  4. Subprime Lending: Helping Hand Or Underhanded?

    These loans can spell disaster for borrowers, but that doesn't mean they should be condemned.

  5. How Will The Subprime Mess Impact You?

    The subprime collapse could mean doom and gloom for housing, equities and the overall economy.

  6. How Interest Rates Affect The Housing Market

    Understand how rate changes can affect home prices, and learn how you can keep up.

  7. Can't Get A Bank Loan? Turn To Your Neighbor

    Peer-to-peer lending can be an inexpensive way to gain access to credit when banks are restricting lending -- but you need to understand the entire deal first before jumping in.

  8. 6 Tips For Selling Your Home Fast

    Find out what you can do to stand out from the competition and make your home an easy sell.

  9. 5 Smart Ways To Use Your Tax Return

    This year, find out how to stretch your tax refund further to strengthen your future.

  10. Other Options For The Cyprus Bailout

    Find out the other options Cyprus could use to resolve it's financial troubles, since its proposal to tax bank deposits didn't work out.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.

  2. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  3. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  4. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  5. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  6. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=7e083950f96a523a0d2238051f8c9194