Examples of foreclosures in the following topics:
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- 2007: 2,203,295 foreclosures were filed on 1,285,873 properties during the year, up 75 percent from 2006.
- 2008: 3,157,806 foreclosures were filed on 2,330,483 properties during the year, up 81 percent from 2007.
- 2012: 1,836,634 properties received foreclosure notices during the year, down 3 percent from last year.
- 2014: 1,117,426 properties received foreclosure notices in 2014, a 18 percent decrease over 2013.
- 2015: 1,083,572 properties received foreclosure notices in 2015, a 3 percent decrease over 2014.
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- Sometimes, provisions are included concerning the payee's rights in the event of a default, which may include foreclosure of the maker's assets.
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- If a bank forecloses on a home that is losing value, then too many foreclosures cause total liabilities to exceed total assets.
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- However, faced with a tide of poverty, Hoover and Congress approved the Federal Home Loan Bank Act to spur new home construction and reduce foreclosures.
- The plan initially seemed to work as the rate of foreclosures dropped; however by many it was seen as too little, too late.
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- Seizure of real estate for non-payment is also known as foreclosure.
- A foreclosure is a legal process in which mortgaged property is sold to pay the debt of the defaulting borrower.
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- The 2008 global financial crisis was caused by widespread corporate fraud and risky loans and resulted in foreclosures, bank bailouts, and a global recession.
- In many areas, the housing market also suffered, resulting in evictions, foreclosures, and prolonged unemployment.
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- In many areas in the United States, the housing market also suffered, resulting in significant numbers of foreclosures.
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- Other examples of sales that would not meet the test of fair market value include a liquidation sale, deed in lieu of foreclosure, distressed sale, and similar types of transactions.
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- Some people question a government's role in financing.When a government directly lends, the government squeezes the financial institutions out of the loan market.Furthermore, the federal government loan guarantees increase the problem of moral hazard.Financial institutions receiving the loan guarantees might not screen borrowers as much, lending to borrowers with a high default risk.For example, the effects of the 2007 Great Recession continue to linger in the U.S. economy, even in 2014.Recession caused mass layoffs and doubled the unemployment rate.Then the housing values continue to plummet while foreclosures continue soaring.Consequently, the U.S. government might be liable for trillions of dollars in loan guarantees and bailout of public corporations.We explain several examples below:
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- In other words, the better the public services, the higher the rent is (as more people value that land).The tendency of speculators to increase the price of land faster than wealth can be produced to pay results in lowering the amount of wealth left over for labor to claim in wages, and finally leads to the collapse of enterprises at the margin, with a ripple effect that becomes a serious business depression entailing widespread unemployment, foreclosures, etc.