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January 01, 2010

Mortgage Foreclosure

Mortgage foreclosure rates continue to rise in spite of President Obama's mortgage relief plan. Anticipated mortgage foreclosure statistics project an additional 9 million homeowner's will lose their homes to foreclosure by 2012.

The increase in mortgage foreclosure rates originated with predatory lending practices. Many borrowers obtained 'no money down' subprime loans. When the banking crisis occurred and real estate prices fell, many borrowers were left owing more on their home mortgage loan than the appraised property value.

Real Estate Investing article on "Mortgage Foreclosure"