The biggest single factor behind a home foreclosure is job loss with discontinued income. The second biggest factor is unexpected medical expenses, which extends to other family members like parents. RealtyTrac just reported today that home foreclosures for the first quarter of 2009 are up 24% from a year ago. In California, where the moratorium has lifted, foreclosures rose by 80% from February to March, hitting 50 thousand!!!
Source:
http://www.marketoracle.co.uk/index.php?name=News&file=article&sid=10074
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