Priscilla Moore
RE/MAX Allegiance
5641 Burke Centre Parkway, Burke, VA22015
Priscilla MooreO: 703-250-6673C: 703-298-2641

Today's News and Features

Q: What causes a foreclosure?

Saturday, August 15, 2015

A: A lender decides to foreclosure, or repossess, a property when the owner fails to pay the mortgage. Unfortunately, thousands of homes end up in foreclosure every year.  

Many people lose their homes due to job loss, credit problems, divorce, unexpected expenses, and during periods of economic instability.

Failure to pay property taxes may also cause a homeowner to lose his home.  Trouble can also arise when owners neglect to pay local water bills and home insurance premiums.

 

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