Debts are often a part of life in America for all classes, and there are many tools to recover from the problem. One of the worst forms of debt is foreclosure, which often takes away a family's most valuable asset as well as their home at the same time.
Owning a home is a big part of the American Dream, and there are many financial services designed to make this more doable for working people and families. Unfortunately, there are still high rates of failure to maintain mortgages and home loans that let people keep their homes.
It is difficult to consider becoming a renter - or worse - once a person or family has bought a home. It is undeniable that owning one's own property is part of the American Dream, and foreclosure or other loss of property due to financial distress is one of life's greatest nightmares.
Few problems are more daunting than the possibility of losing a home, especially if a family has invested a great deal in its purchase and maintenance. Foreclosure is rare, but the specter of repossession has been close behind since the beginning of the Great Recession.
Foreclosure is one of homeowners' greatest nightmares. The idea of losing a hard-won property asset is bad enough, but losing a home and a household can be an especially traumatic experience. Losing a business can be just as harmful to a business or family.
Foreclosure is the worst-case scenario for any property owner. Bank or institutional repossession of a house or business location after a mortgage has been unpaid is a bad move for the former owner, the bank and often the next owner.
Home ownership is one of the great accomplishments for American workers and families. After the investment and care that homeowners take in their new abode, there are few times more stressful than the danger of foreclosure -- a mortgage lender reclaiming the property after nonpayment of scheduled loan maintenance.
Foreclosures became a sad fact of life during the Great Recession, with high levels of people losing their homes to defaults and bank seizures in the years following 2008. New evidence shows the market is recovering for borrowers, although dangers remain for homeowners facing financial challenges.
According to one study, a full 37 percent of people who are facing foreclosure could have major depression. They met the criteria.
On the whole, the foreclosure rate in Ohio is one out of every 1,173 homes. However, this average is found by compiling data from all across the state. Which areas see the highest number of foreclosures? In which counties is it most common?