Debra and Arthur Scriven were served notice in June 2008 that their mortgage lender, a unit of Citigroup Inc., was preparing to foreclose on their home. Fifteen months later, the Scrivens are still in their home near Columbia, S.C., and battling to stay there, even though a dispute with the lender over how much they owe prompted them to stop making regular payments last year.
Legal snarls, bureaucracy and well-meaning efforts to keep families in their homes are slowing the flow of properties headed toward foreclosure sales, even when borrowers are in deep distress.
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Foreclosure generally happens when the homeowner buys a property on a huge loan and cannot pay back the debt. But in recent times, there have many uncommon reasons for foreclosure and the behavior of the mortgage lenders who’ve been taking charge of the foreclosed properties. Such as, illegal occupancy of foreclosed properties, eviction of innocent tenants due to foreclosures, mysterious suicide due to foreclosure. For more details on this points refer http://www.financialculture.com/the-inhuman-face-of-foreclosures/