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The sale of liens could lead to foreclosure.
Failure to pay can ultimately lead to foreclosure.
It's not, and everyone involved must understand that defaults can lead to foreclosure.
The mortgage contains details about the terms of the loan, the payment of escrows, and actions that could constitute a default that could lead to foreclosure.
The AP summarized Edwards's reasoning this way: "Medical bills often lead to foreclosure, a primary factor in the lagging housing market that's led to the demise of several Wall Street firms.
As home prices drop, she said, many homeowners are stuck owing more money than they can recover by selling the house, which could lead to foreclosure if they are unable to keep up with the monthly payments.
Similar(44)
Credit-card companies can mislead their customers about the true interest rates they are paying; mortgage lenders can trick borrowers into refinancings that are likely, in time, to lead to foreclosures.
In one measure of residents' distress, people are falling so far behind on their bills that the city is placing more liens against their homes, which can eventually lead to foreclosures.
Lenders have predicted that the conflicts between leases and mortgage rules are not likely to lead to foreclosures, but are likely to result in new rules from local banks and additional hurdles to getting a home loan or refinancing an existing mortgage.
The reason bad loans were bad loans is that they would lead to foreclosures if prices fell, as the borrowers couldn't afford to pay the mortgage for very long and were counting on refinancing or selling in a year or two, when prices were going to be higher.
Kermit Baker, an economist at the Harvard University Joint Center for Housing Studies, says that the equity problems that lead to foreclosures are more often than not "the result of economic conditions in the market as a whole," or "an overheated market".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com