Foreclosure : incentives, initiatives, and outcomes / Barbara A. Farkas and David F. Lakatos, editors.

Format:

Book

Contributor:

Farkas, Barbara, editor.

Lakatos, David F. (David Frank), editor.

Series:

Housing, issues, laws and programs series.

Housing Issues, Laws and Programs

Language:

English

Subjects (All):

Foreclosure--United States--Prevention.

Foreclosure.

Mortgages--United States.

Mortgages.

Executions (Law)--United States.

Executions (Law).

Physical Description:

1 online resource (153 pages).

Place of Publication:

New York : Nova Science Publishers, Inc., 2011.

Summary:

Since 2006, the percentage of mortgage loans that are seriously delinquent, including defaulted loans and foreclosures in inventory, has risen. One option for resolving a mortgage default is foreclosure. Foreclosure, however, is costly for borrowers that lose what might be the largest asset in their portfolios; for lenders that may not be able to recoup the outstanding loan amount, legal fees, lost revenue and maintenance costs until the distressed property is sold. This book provides an overview of servicing and a summary of the typical array of loss mitigation that servicers may offer distressed borrowers. Also discussed are regional house price movements and unemployment trends which are important drivers of mortgage repayment problems and loss mitigation outcomes.

Contents:

Incentives and factors influencing foreclosure and other loss mitigation outcomes / Darryl E. Getter

Preserving homeownership : foreclosure prevention initiatives / Katie Jones

"Robo-signing" and other alleged documentation problems in judicial and nonjudicial foreclosure processes / David H. Carpenter

Mortgage foreclosures : additional mortgage servicer actions could help reduce the frequency and impact of abandoned foreclosures / United States Government Accountability Office.

Notes:

Includes index.

Description based on print version record.

ISBN:

1-5361-1666-1