Ways You Can Lose Your Property
| People sometimes lose their homes through foreclosure or possession. Some pursue the quick buck is through the foreclosure sales. There are several other ways homeowners or investors can lose property. Discussed in this article are at least six ways a homeowner can lose their property to the auction block. |
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While there may appear to be a lot of foreclosures out there, the Mortgage Bankers Association reports that less than 1 percent of mortgages in 2005 went into foreclosure (down 12 basis points from the year before.) However, the number of mortgagees in default rose the last reporting quarter to 4.70 percent.The increase comes as no surprise to the group’s chief economist, Doug Duncan. “We have been expecting an up-tick in delinquencies due to a number of factors: the seasoning of the loan portfolio, the increased shares of the portfolio that are ARMs and subprime mortgages, as well as the elevated level of energy prices and rising interest rates,” he said on the group’s website.
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