A foreclosure hardship and the circumstances in a homeowner foreclosure.
Maintaining your legal rights cab be crucial in preventing a foreclosure.
foreclosure hardship is an unexpected and sometimes unavoidable
circumstance that creates either a financial situation that causes the
homeowner to default on their scheduled mortgage payments as well as
other consumer payments. Some common examples of a hardship are:
unemployment, job lay off/cut backs, medical expenses, sickness,
accident that prevents one from going to work, divorce, family issues,
military call up, emergency expenses, stolen property, and many others.
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1/25/12 Principal cuts don't help homeowners - Bloomberg
1/25/12 Alan Greenspan's ship of fools - Guardian
1/25/12 Foreclosure auctions show raw capitalism - New York Times
The Fed flying blind - Atlantic