How many foreclosures on mortgages occur a year?

Answer The amount of foreclosures in the United States per year varies depending on economic conditions. In 2009, 2,824,674 properties received a foreclosure notice. Nearly one in 45 households were in de... Read More »

Top Q&A For: How many foreclosures on mortgages occur a year

Are there 10-year mortgages?

Mortgage terms can range from 10 to 50 years, depending on the lender and the program. A shorter mortgage term typically yields a lower interest rate and lower overall expenses, though monthly prin... Read More »

How many foreclose on mortgages a year?

The number of foreclosures varies from year to year. According to Realtor Magazine, the number of mortgages that were foreclosed upon in 2009 was 2.8 million. This represented a 21 percent increase... Read More »

What Year Did ARM Mortgages Start?

Adjustable rate mortgages were created in 1982 with the Garn-St. Germain Depository Institutions Act. This act was created to deregulate the savings and loan industry and allowed lending institutio... Read More »

Are 50-year mortgages good?

On One Hand: Longer Terms Are BetterThe longer the term (or length) of a mortgage, the better for the borrower as a whole. The loan amount per month is smaller, making the debt easier for the borro... Read More »