I’m not sure this is true, but I heard the that many of the problems with the foreclosure rate was caused by the Government. They thought that more people should be able to get loans, making regulations that required the banks offer more loans to less qualified individuals. When they loosen the requirements to people who would not normally be "credit worthy", you would expect more defaults on loans.
I'm not talking about reverse or predatory lending which is rampant in our area.
Just thought this was interesting. Just what you would expect when the Government gets involved with anything! Then the politicians can bail them out with taxpayers money.
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