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During the Depression foreclosure rates skyrocketed. What was the main cause?

People went into foreclosure when they left their homes to find job...

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During the Depression foreclosure rates skyrocketed. What was the main cause?

People went into foreclosure when they left their homes to find jobs in other cities.
When banks folded they cancelled their mortgages and homes went into foreclosure.
The interest rates on home loans ballooned and families could no longer afford payments.
Families without employment had little in savings to pay their mortgage.

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Virtual Teaching Assistant: Heather L.
Question Level: Basic
Karma: Free
Upload Date: 10/03/2017

This 63 words question was answered by Heather L. on StudySoup on 10/03/2017. The question contains content related to US History and History. Since its upload, it has received 318 views.

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