The Root Causes Of Foreclosures by real estate expert Fulton Gaylord

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Real Estate Agent with Keller Williams Realty

The Root Causes Of Foreclosures by real estate expert Fulton Gaylord

Avoid Foreclosure Hell!

At one time there were two main causes for foreclosures in our country. We are going to discuss these causes and see how it affects the real estate and banking industries.

The two main causes that originally brought about a foreclosure event were divorce and failed businesses. The bigger of the two is divorce and it is usually based on the departure of the husband.

Failed businesses are the second commonest cause for foreclosure in the Charlottesville Real Estate Market. Often times, the homeowner has been swamped with debts and has either refinanced or gotten second or third mortgages in [Profile.market. Unfortunately in these cases, the only available avenue for the bank to take is to foreclose on the house in the Charlottesville Real Estate Market.

Avoid Foreclosure Hell!

In our country today, the state of the nation has caused a horrendous amount of foreclosures. Layoffs and major companies going bankrupt has caused people to get behind in their monthly payments and not able to catch up.

In previous years, a lot of people were able to avoid these problems by doing such things as refinancing their homes, sell their homes, or get a consolidation loan. When they combined their debt they were often able to get one lower payment.

Unfortunately, today the debt is a lot higher than what a home is worth and the only option is foreclosure. This has brought about a huge amount of homes in the Charlottesville Real Estate Market that are either sitting empty or are now owned by the banks.

There is a lot of free information available to you about buying, selling or investing in the Charlottesville Real Estate Market. For complete information about the Charlottesville Real Estate Market including current homes for sale, property values and more, please visit the most complete website online dedicated to everything in the Charlottesville Real Estate Market. Please feel free to contact me with any of your real estate or mortgage related questions and I would be more than glad to answer your questions. Call me on my cell or email me.

Avoid Foreclosure Hell!

Posted by

Fulton Gaylord-Associate Broker, ABR, SRES, e-Pro
Certified REO Specialist, Registered HUD Agent
Keller Williams Realty
3510 Remson Ct., Ste 301 Charlottesville, VA. 22901
Fulton@kw.com
434-220-2228

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Rainmaker
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Dan Mincher, CCIM
The Vollman Company, Inc. - Sacramento, CA
Sacramento Commercial Real Estate

Fulton;  Aren't the major causes of foreclosure in the past 4 years, the combination of far too many buyers buying more home than they could afford, with loans they shouldn't have gotten, followed by near collapse of the financial market and perhaps after that, business failures and job loss?  Small busines owners have historically financed their operations through HELOC loans.  When the bubble burst, many failed from lack of cash flow and operating capital.  I'll agree that business failure is more the 'final domino' in a string of events.  Best wishes selling those foreclosures, regardless of why they happened!

Dec 04, 2012 12:40 AM #1
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Rainmaker
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Fulton Gaylord

1st-Time Home Buyer Realtor - Charlottesville, VA
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