Real Estate Foreclosures

Please conduct independent Internet research on the most recent mortgage foreclosure crisis. This crisis impacted both the residential and commercial real estate finance markets.

1. Real estate foreclosures in some areas climbed to very large percentages (as high as 50%) of the housing stock.

How did the traditional foreclosure process fail under these unusual circumstances? Please discuss this question and the statement above.

Please answer in 300 words or more.