Relevant:
- US sales of foreclosure homes rose in 1Q
- Poll Respondents Feel Americans Who Cannot Afford Homes Should Get Out
- As Owners Feel Mortgage Pain, So Do Renters
- Rich Default on Luxury Homes Like Subprime Victims
- Short sale dynamics -- short sales recorded the highest number of transactions in three years during the first part of 2012. What data do we have on short sales with second mortgages?
2007-10-11 — wsj.com
"In many cases, the homes and apartments entering foreclosure are owned by investors who got low-rate teaser mortgages and intended to hold the buildings for a few years and then sell them at a profit -- before their mortgage rates rose. Now, with the housing market badly depressed in many markets, the owners can't sell the homes or afford the higher mortgage payments. Many are defaulting."
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