Delay in the payment of real estate lending in the U.S. showed the maximum growth in 2009, Bloomberg reported, citing a report by the American Bankers Association.
The first harbinger of the global financial crisis in 2009 is the collapse of the U.S. stock market induces. All the world's leading financial analysts came together in one opinion: the global economic crisis was caused by the state of the mortgage market. That is why today's global crisis and has been called "mortgage crisis". In this regard, many lucky people have chance of the free foreclosures of property as desired.
All this has led to negative consequences, which is reflected at the level of salaries of private individuals, companies and the income weighted average cost of national currencies. But start of this crisis coincides with a drop in activity in the U.S. mortgage market, and this is absolute fact. To this day, the demand for free REO foreclosures still in demand.
The cause of delays were sharply higher prices for food and fuel, as well as the economic crisis in the country, accompanied by rising unemployment. In May 2009, the number of U.S. jobs has decreased by 79,000 people. On this basis, credit institutions, according to the law, starts sale this real estate in the status of "Real Estate Owned Foreclosures".