Foreclosure Project

Observations & Issues

Statistics show that defaults occur in about 90% of foreclosure cases. Many of these are intentional, informed defaults by homeowners who have concluded that they simply cannot afford to save their homes.

Other defaults may be the result of the homeowner’s lack of knowledge or understanding of the legal process, or the inability to afford or access help from available legal or counseling services.

In addition, some homeowners decide that they will represent themselves in the litigation, whether by choice or because they are unaware of the resources available to them. Some of these instances represent missed opportunities to avoid foreclosure or reach an agreement with the lender that could benefit both sides.