We hope you enjoy the latest Southern
California fishing and housing news.
Remember... If you or someone you know is looking
to buy or sell a home;
your referrals are greatly
appreciated and help to support this site.
~Happy Fishing
Up to the
minute
Fishing & Real Estate
News
Most
Common Reasons Borrowers Face
Foreclosure
October 11, 2007
In July 2007, there
was a survey done to identify the
primary reasons borrowers fall behind on
their home loan payments. Responses were
gathered from approximately 80% of
borrowers who were facing foreclosure.
Of those borrowers, the most common
reasons they were facing financial
difficulties were:
Curtailment of Income - 58.3%
Illness/Medical - 13.2%
Divorce - 8.4%
Investment Property/Unable to
sell - 6.1%
Low regard for homeownership -
5.5%
Death - 3.6%
Payment adjustments - 1.4%
Other - 3.5%
