For example, a lender can take ownership of a house via foreclosure.
While nobody wants to see a family locked out of their house due to foreclosure, we run the risk of moral hazard if we continue to reward irresponsible behavior.
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He has been in high security prisons, shackled and handcuffed on buses and planes during transport across country, has lost his business, has lost all of his money, his house is in foreclosure and his family is suffering.
One big problem with that theory: Banks lose money on virtually every house they take back in foreclosure.
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Public records indicate the red brick house with white siding is in foreclosure and has been bank-owned since mid-November.
He has owned the house, which is reportedly subject to foreclosure for non-payment of tax, since 1992.
It's worth it to us to sell that house and not have it on a foreclosure inventory.
Those happen when buyers hire someone to help them stay in their houses after foreclosure proceedings have begun, and those so-called foreclosure experts basically trick homeowners into signing away the title of their house without even knowing it.
When people hear foreclosure they usually think of the bad guys coming in to take the house.
Moreover, downpayments are actually required, unlike in the U.S. where subprime clients were able to get into a house with little or no money down, leading to a foreclosure crisis.
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Foreclosure starts tend to be high in states with stressed economic conditions and to rise where house prices have decelerated or fallen.
In Prince William County, Virginia, for example, house prices fell by 31% in the year to May and one home in 111 is in foreclosure.
It is difficult to be precise about the number of foreclosure initiations expected in coming quarters, as it will depend on (among other factors) the evolution of house prices, which will vary widely across localities.
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