Stop My Foreclosure! It is the rallying cry of millions of homeowners who have found that they can no longer pay their mortgage. The reasons for this are varied. Some of the reasons are outside of a persons control. Others are the result of homeowners not understanding the language of the loan. In any case, homeowners are saying stop my foreclosure.
In this economy, many people are losing their jobs. As a result, they can no longer afford their mortgage payments. Other people have had major medical problems which have resulted in temporary job losses and big bills to pay. These are some of the more traditional reasons that people face foreclosure.
But there are also reasons caused by the financial markets in the past 10 years. For most of that time, housing values were increasing at dramatic rates. This allowed banks to be somewhat creative in their financing. But the bottom has fallen out of the housing markets which has caused some people to lose their homes. This has lead to a chorus of stop my foreclosure.
One of the things that happened was that lenders decided that if a family couldnt afford a traditional mortgage, they would come up with creative...
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