Mortgage Foreclosures

Mortgage Foreclosures

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Entities responsible for managing home mortgage loans -- called servicers -- may initiate foreclosure proceedings on certain delinquent loans but then decide to not complete the process. Many of these properties are vacant. These abandoned foreclosure -- or qbank walkawayq -- properties can exacerbate neighborhood decline. This report assessed: (1) the nature and prevalence of abandoned foreclosures; (2) their impact on communities; (3) practices that may lead servicers to initiate but not complete foreclosures and regulatory oversight of foreclosure practices; and (4) actions some communities have taken to reduce abandoned foreclosures and their impacts. Charts and tables. This is a print on demand report.Additional Mortgage Servicer Actions Could Help Reduce the Frequency and Impact of Abandoned Foreclosures A. Nicole ... As of June 2010, an estimated 4.6 percent of the over 52 million first lien mortgages outstanding nationwide were inanbsp;...


Title:Mortgage Foreclosures
Author: A. Nicole Clowers
Publisher:DIANE Publishing - 2011-04
ISBN-13:

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