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Reply #13: According to our former state AG, 25% of our foreclosures [View All]

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Blue Diadem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-29-08 08:44 PM
Response to Reply #3
13. According to our former state AG, 25% of our foreclosures
in Ohio were mortgages that involved outright fraud, where the buyer, the seller, the appraiser—everybody was cut in. I'm really curious what the % is across the country.

Job loss and medical crisis accounted for 50% of Ohio's foreclosures while 25% was sub-prime loans that involved people who couldn't either afford the house or signed a contract they didn't fully understand.
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