Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
Categories:

Archives:
Meta:
April 2025
S M T W T F S
« Oct    
 12345
6789101112
13141516171819
20212223242526
27282930  
12/08/07
Homeowners could owe more than they own
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 12:00 pm

NEW YORK - Homeowners started losing hold of their homes years before spiking foreclosures and the housing slump slammed the economy. Piece by piece, some gave away their homes by tapping equity to take cash out to pay for cars, weddings and vacations. Others never owned one brick. During the country’s most recent housing boom, the term “homeowner” became a misnomer as lenders offered 100 percent or more home financing to some buyers.  More…

Leave a Reply