What is the leading cause of foreclosure in Wisconsin?
Experts say there is no single cause behind the troubling foreclosure trend. However, they have noted a change in several of the leading factors contributing to the financial challenges many families face today. In past years, easy credit and irresponsible consumer behavior played a significant role in many foreclosures. Today, job losses and extended unemployment of one or both spouses as well as unexpected medical expenses and divorce or the death of a spouse are increasingly common factors. In short, today’s foreclosures are affecting many families and individuals with established credit ratings and excellent savings habits. Irresponsible, and at times predatory, lending practices also have contributed to the high number of foreclosures in recent years, experts say. In some cases, well-intentioned programs have extended mortgage loans to consumers with little money for a down payment or unrealistic expectations about their future earnings. In other cases, lenders have created new lo
