His home mortgage was foreclosed and his car was repossessed. Consequently, many homes were foreclosed, causing the housing market to plummet. There were also reports of people resquatting their own foreclosed homes. Recently there have been increasing numbers of people squatting foreclosed homes using fraudulent documents. The Act provided emergency assistance for the redevelopment of abandoned and foreclosed homes. During the Great Recession there were increasing numbers of people squatting foreclosed homes. Mortgages are formally foreclosed at auction by a licensed auction specialist. Fox eventually foreclosed on the parking lot property and sold it. While she was there, their lender foreclosed on the condominium. In 2010, the Playhouse was closed after lenders foreclosed the property. Chamillionaire's 3rd mortgage property home (Mansion) was foreclosed on by the bank. He also proposed municipal bonds for the purpose of buying foreclosed properties to expand housing. After financial troubles, the bank foreclosed the island and John's Georgetown property in 1833. When that owner died, Thomas Green Clemson foreclosed the mortgage. Two auctions are scheduled for foreclosed Entertainment District properties.