The country's initial rise in foreclosures was due largely to bad loans -- subprime loans and loans with rates that adjusted too high and too fast -- or loans with bad underwriting standards, such as those that didn't require proof of job or income.
"We are going back to the old fashioned way of losing your home: That's losing your job, not just having a bad mortgage and making poor financial decisions," said Guy Cecala, publisher of the trade publication, Inside Mortgage Finance.
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