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Issue:

Social Issues

 

Written by:

Charles M

 

Date added:

November 28, 2015

 

Level:

University

 

Grade:

B

 

No of pages / words:

4 / 946

 

Was viewed:

8829 times

 

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Essay content:

Unfortunately the American dream as we know it has come to an end. With this mortgage crisis affecting over half of American households; and the economy nearly being in recession, many families’ worst nightmare of having their homes foreclosed has now become their sad reality. This reality was a bubble that was creating a huge demand for housing and now that it burst, our economy is being filled with massive numbers of consumers spending...
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The course of a foreclosure usually begins when the owner of the home fails to make a payment on their mortgage, then that is when the lending institution files a Notice of Default. Most of the foreclosure homes have an “Arm” Loan. The “Arm” Loan has four options within it, a person may choose: interest only, principle and interest for 15 years, principle and interest for 30 years, or the minimum payment...
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