What is a Foreclosure? A foreclosure occurs when a property owner cannot make principal and/or interest payments on his/her loan, typically leading to the property being seized and sold. How does a foreclosure occur? The foreclosure process is not very difficult to understand. There are several stages during which the homeowner has an opportunity to [...]
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It’s The Principal, Stupid! Fed Chair Bernanke Wants Lenders To Slash Their Loans
by Charles Feldman | March 5, 2008Want to know just how bad the mortgage / housing / credit / banking / securities / oil / crisis has become? Okay. When was the last time you heard a high ranking government official actually call for lenders to slash the amount of their loans…NOT the interest, the principal! That is exactly what Federal [...]