foreclosure

If you fail that interview you dodged a bullet (assuming you aren't 30 days from foreclosure or something).

Even in the depths of the financial crisis, well under 10% of homes entered foreclosure each year (i.e.

Having gone through foreclosure myself, there is zero chance that you would lose your house after 2 missed payments.

Some people are getting charged hundreds of thousands of dollars years after foreclosure!) Also: you had no credit cards?

The reason a foreclosure is more favorable when you put in more equity is because they can sell it at a lower market rate and still get their money back.

Banks get to keep payments already made and the collateral they agreed upon when foreclosure occurs.

Well, even at the worst of the crisis, annual foreclosure rates were under 10% (i.e.

If it is underwater and you have very little equity then they would be forced to take a loss from the foreclosure.

Parent post also implies that during the foreclosure crisis the value of houses increased.

Again, no money to pay any of this so I had to let it go into foreclosure.

As well the house was behind on payments so I let it go to foreclosure.

You're not necessarily right just because you went through a foreclosure.

Berkshire declared each year since 2010 that 98 percent of its loan portfolio is “performing.” Yet elsewhere in its financials, the company discloses that the only loans it considers “non-performing” are those currently in the foreclosure process.

I stopped paying, tried to work out a modification to reduce the principal with Bank Of America (who completely botched it), they transferred it to a "specialty servicer" who specializes in modification (who also botched it), and then ended up just letting it go into foreclosure.

Foreclosure means giving up control and probably losing everything, and you should try very very hard to stay in control of what happens here.