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Loan Modification
: Mortgage Lender Implode-o-MeterForeclosure crisis not driven by luxury home purchases
By Implode-Explode Heavy Industries
To the list of urban myths, add this one: California?s foreclosure crisis was driven by people who overreached and purchased luxurious new homes they couldn?t afford.
That idea is wrong on several counts, based on an exhaustive analysis of the 877,173 homes that were foreclosed upon in California between September 2006 and November 2009.
Full post as published by Mortgage Lender Implode-o-Meter on August 18, 2010 (boomark / email).
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