oakland homes: Oakland Ca Real Estate-The Foreclosure Process
- 04/11/07 08:04 AM
One of the realities of the Oakland real estate world is that when housing and economic activity declines, there are more homeowners who end up facing the foreclosure process. When appreciation is high for a sustained period, such as the Bay Area market from 2001-2005 people tend to be more aggressive and will go to great lengths to buy. In fact, lenders were going to great lengths to lend to those who maybe were not well qualified. In many of these cases, borrowers chose interest only loans with balloon payments and took out second, third and even fourth deeds of trust. … (0 comments)
One of the realities of the Oakland real estate world is that when housing and economic activity declines, there are more homeowners who end up facing the foreclosure process. When appreciation is high for a sustained period, such as the Bay Area market from 2001-2005 people tend to be more aggressive and will go to great lengths to buy. In fact, lenders were going to great lengths to lend to those who maybe were not well qualified. In many of these cases, borrowers chose interest only loans with balloon payments and took out second, third and even fourth deeds of trust. … (0 comments)
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