Just who are all of the people defaulting on their home loans in America.?

Posted on Mar 1, 2013 in Stated Income Loans

A few nice apartment developing images I discovered:

Mt. Auburn Apartment Constructing

Image by taestell
Sources say this apartment developing will be demolished as component of the Christ Hospital expansion.

For much more homes click right here…

harp 2
home affordable refinance program or harp
Image by bunchofpants
You can also view The Harp, abortion a work of sheer cinematic genius … although the ending is sure to diasppoint.

If you would like to see more homes click here…

Question by bishopdon7: Just who are all of the people defaulting on their home loans in America.?
These people made false statements on their applications, help and some unscrupulous lenders aided these home buyers.
What is the demographic on these people?

Best answer:

Answer by kthor101
the poor, information pills the bad credit people, more about people who can’t afford loans, people who are affluent, big spenders from every walks of life foreclosure have hit them…but ya it’s mostly people who cant afford the home in the first place ..

Know better? Leave your own answer in the comments!

5avg.rating 24 votes.

4 Comments

  1. The numbers aren’t as high as the media makes them out to be. Yes, foreclosures are up, but there are no foreclosures on my block! One expert I read recently pointed out that foreclosures are still below 1% of all mortgages. Those getting foreclosed are often those who took on foolish loans. Some are victims of quickly rising local taxes and still others, as always, have just fallen on hard times due to illness or job loss.

  2. your neighbor and mine……could be just about anyone

  3. No, it’s not a false statment. It has nothing to do with anything other than people who were told that they could afford between $ X and $ Y and they maxed out.

    They bought too high and guess what? Maybe a job was lost or someone was ill. Or maybe they couldn’t afford it to begin with because their debts and bills were too high.

    The demographics are gears towards the middle class families who thought they could afford more than they really could. It’s no one’s fault but their own.

  4. It’s not because they made false statements. It’s because they are too stupid to read the fine print, and too stupid to ask questions like “What happens when my interest rate goes up?” It’s also because nasty lenders were willing to do ANYTHING to get them to sign on the line.