Vista Mortgage Group Blog

Amazingly, the current mortgage crisis has been primarily conveyed by the media as a "subprime" issue; which is ridiculous. 

Foreclosures are NOT EXCLUSIVE to Subprime mortgages (higher risk loans where borrowers have less than a 600 credit score). 

Foreclosures occur for a variety of reasons: 

loss of a job, divorce, excessive use of credit, medical emergencies, adjustable-rate payments, someone needing to sell and can't (lower market values or someone who owes more than what the home is worth), death of a spouse, fraudulently qualifying for a payment that someone can't afford, etc.