Cara Heiden, co-president of Wells Fargo Home Mortgage of West Des Moines talked about foreclosures last week in the Des Moines Register. She says foreclosures need to move forward. "In general, no one is being foreclosed on who shouldn't be." She says that Wells Fargo borrowers who lose their homes have not paid mortgages an average of 16 months. Does that make you think the process needs to be streamlined? Can you imagine living in your home for over a year and not making a payment? You could, conceivable, save up a good chunk of cash and buy the next house on contract. Or you could be irresponsible, neglect maintenance, tear up the property, put tenants in and collect rent, be your neighbor's worst nightmare..for well over a year.
The Business Record reports that one in every 896 housing units in Iowa received a foreclosure filing in October, compared with one in 79 housing units in Nevada, the national leader. See how fortunate we are! Polk County had 428 foreclosures in October. Realty Trac vice-president, Rick Sharga, says "The numbers probably would have been higher except for the fallout from the recent 'robo-signing' controversy."
As always, we can take the lemons and make lemonade. Those foreclosed houses are going to make someone a good home. Maybe you?
The Business Record reports that one in every 896 housing units in Iowa received a foreclosure filing in October, compared with one in 79 housing units in Nevada, the national leader. See how fortunate we are! Polk County had 428 foreclosures in October. Realty Trac vice-president, Rick Sharga, says "The numbers probably would have been higher except for the fallout from the recent 'robo-signing' controversy."
As always, we can take the lemons and make lemonade. Those foreclosed houses are going to make someone a good home. Maybe you?
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