Foreclosure Rates Are The Highest In These 10 States. NY Ranks #1
Foreclosure Rates Are The Highest In These 10 States And It Shows The Housing Crisis Is Far From Over
Foreclosure rates are on a downward trend on average throughout the United States. Yet, some states continue to struggle with property owners defaulting on their loans. It’s also proof that the financial crisis is far from over.
It seems like homeowners don’t seek the help they need when a personal financial crisis begins. There are a plethora of ways to help homeowners at the beginning of a crisis. However, those options rapidly dwindle as time goes and they do nothing.
Homeowners do nothing for multiple reasons and it is usually due to arrogance. This sense of arrogance is especially relevant in suburbia and it’s what drives up the foreclosure rates. Homeowners in foreclosure are usually broken into two groups.
First, a lot of homeowners are in denial and stay in denial until they get served with an eviction notice. As a result of their denial, it is usually too late to do anything.
There is the second group of people who are under the false belief that they can drag out a foreclosure indefinitely. They believe they can play DIY lawyer and file nonsensical filings as pro-se litigants with the court. These people are also the most dangerous because they believe they can pull legal tricks they learned from idiots on the internet. They also tend to piss off judges and end up setting a bad legal precedent. Consequently, this bad precedence screws other homeowners in foreclosure.
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