{"id":203,"date":"2010-04-15T14:34:00","date_gmt":"2010-04-15T14:34:00","guid":{"rendered":"http:\/\/dankrell.com\/blog\/?p=203"},"modified":"2019-07-25T06:48:52","modified_gmt":"2019-07-25T10:48:52","slug":"surprise-findings-about-causes-of-foreclosure","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2010\/04\/15\/surprise-findings-about-causes-of-foreclosure\/","title":{"rendered":"Surprise findings about causes of foreclosure"},"content":{"rendered":"\n

Politics, Wall Street, predatory lending, and bad loans are just a few of the generalizations that the public has attributed to rising foreclosure rates. However, a Florida Realtors\u00ae research study on foreclosures found a much more complex story.<\/p>\n\n\n\n

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Earlier this month, the Florida Realtors\u00ae announced the findings of their \u201cFace of Foreclosure\u201d research project (floridarealtors.org). The project was designed to establish the impact of foreclosure on the Florida housing market and home owners, as well as to assist Florida\u2019s Legislature to decide what intervention (if any) is needed by pinpointing the causes of foreclosure.<\/p>\n\n\n\n

The report cited a positive correlation between unemployment and foreclosure in the Florida cities that were hardest hit by the foreclosure crisis. However, the study\u2019s interviews of families who are in foreclosure did not reveal one cause for foreclosure; the study revealed a trend of multiple factors as the cause of their financial challenges.<\/p>\n\n\n\n

In the April 6th 2010 press release, Florida Realtors\u00ae vice president of public policy, John Sebree, was quoted as saying that \u201cContrary to what some researchers have argued, many Florida homeowners were not driven into foreclosure by simply being trapped in bad loans, or losing their jobs or taking pay cuts.\u201d\u2026\u201dIn most cases, it was a combination of rising living costs, unemployment or decreased pay, health issues and other factors that caused homeowners to get into trouble. Simple answers and trite political responses just don\u2019t tell the whole story.\u201d<\/p>\n\n\n\n

You can view the full report on the Florida Realtors\u00ae research webpage<\/a> (floridarealtors.org\/Research), click on the title “2010 Face of Foreclosure.”<\/p>\n\n\n\n

by Dan Krell \u00a9 2010<\/p>\n\n\n\n

This article is not intended to provide nor should it be relied upon for legal and financial advice. Using this article without permission is a violation of copyright laws. <\/p>\n","protected":false},"excerpt":{"rendered":"

Politics, Wall Street, predatory lending, and bad loans are just a few of the generalizations that the public has attributed to rising foreclosure rates. However, a Florida Realtors\u00ae research study on foreclosures found a much more complex story. Earlier this month, the Florida Realtors\u00ae announced the findings of their \u201cFace of Foreclosure\u201d research project (floridarealtors.org). … <\/p>\n

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