So, in other words, banks are nervous that more homeowners who may have been foreclosed on improperly might notice.
FORBES: Dear Wall Street Journal, Foreclosure Lawyers Are Not The Problem
The agent said owners have either lowered prices, been foreclosed on or are selling the house for the amount owed to the bank.
The building you live in has been foreclosed on, and sheriff's deputies are knocking on the door saying that you've got to leave.
More than 4 million homes have been foreclosed on in the past five years and another nearly 192, 000 were in the foreclosure process as of July.
According to the LA Weekly, the home has been foreclosed on by the bank and has been trying to evict Namvar who has let the property fall into disrepair.
FORBES: Ezri Namvar (aka Madoff of Beverly Hills) Sentenced To Prison
Fed chief Ben Bernanke admitted he has an unemployed relative and that the house in which he grew up has been foreclosed on during the post-FOMC press conference on Wednesday.
FORBES: Bernanke Admits His Childhood Home Is In Foreclosure And A Relative Is Unemployed
We know that every success story that you could talk about there's another story about a man or woman who just lost a job, just been laid off, a plant that's been closed down, a mortgage that's been foreclosed on.
We also have pointed out, though, that the idea of a national moratorium would impact the recovery in the housing sector, as anybody that wished to enter into a contract or execute a contract to purchase a home that had previously been foreclosed on, that process stops.
But again, I think as I told Chip yesterday, I think if a pollster calls you, and you have been laid off and your wife has been laid off, and you're having trouble finding money to pay for college, your neighbor has been foreclosed on, I don't think it's surprising if they ask you about the Recovery Act that you're a little sour on it.
Since the housing and financial markets began to collapse, about 39% of all Americans have been foreclosed upon, unemployed, underwater on a mortgage or behind more than two months on a mortgage, says Michael Hurd, director of the Rand Corporation's Center for the Study of Aging.
Yet in his next breath he mentions a number of local families who have been forced to sleep rough since mortgage lenders foreclosed on their flats.
Homeowners say banks wrongly foreclosed on them while mortgage security investors have been on the offensive claiming banks have not held up their end of the bargain regarding quality of investments.
FORBES: $25 Billion Later Bank Of America, Wells Fargo Still Face Mortgage Trouble From NY AG
And if the banks had foreclosed on all the commercial property loans in breach of covenants, there would again have been an acceleration of losses for borrowers and lenders.
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