Understanding Mortgage Foreclosure: Recent Events, the Process, and Costs

[摘要] This report provides a general analysis and overview of current foreclosure issues addressed in the bills cited above. It begins with a description of the behavior of aggregate foreclosure rates. The behaviors of foreclosure rates are placed in the context of activity in the housing and mortgage market to illustrate any relationships. The foreclosure process is then explained, first from the point of view of a traditional financial lending institution, and then from the viewpoint of securitization when loans are sold in secondary markets. Finally, this report collects information from other studies to obtain an estimate of the average foreclosure costs. A brief discussion of the effect uniform foreclosure legislation may have on costs follows.

[发布日期] 2007-11-05 [发布机构] Library of Congress. Congressional Research Service.

[关键词] Finance;Housing;Mortgage loans