Sentences with phrase «home foreclosures tied»
A spike in home foreclosures tied to the subprime mortgage meltdown in 2007 has led to a crisis of confidence in the bond markets and slowed lending activity.
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For example, let's say you had $ 50,000 of entitlement tied to your foreclosure and you want to purchase a home for $ 200,000 in a county with a standard $ 453,100 loan limit.
A mortgage is tied to your home, meaning you risk foreclosure if you fall behind on payments.
Make sure you only borrow what you can afford as this loan is directly tied to your home and if you can not afford to make payments you could potentially lose your home to foreclosure.