Mortgage loans A basic primer
Reducing the number of foreclosures and defaults on mortgage loans will be a primary goal of the plan. An estimated 2. 3 million homes were foreclosed this past year and many analysts predict that the number could reach as high as 10 million in the coming years, if the recession continues. The state of Arizona has one of the highest foreclosure rates in the country. It is one of the areas in the country hardest hit by the recession with unemployment recorded at 6.