I’ve noticed a big increase in preforeclosures/foreclosures in newer areas (EastLake, Carmel Valley) The older neighborhoods do have some, but not at the same rate.
Another thing I’ve noticed is very disturbing, and that is the disproportionately high percentage of foreign sounding last names on those pre-foreclosure lists. I know many of you have uncovered actual plots/scams within cultural groups in certain towns, but what about the good people caught up in this???
When renting a house in Japan I was very much at the mercy of the realtor. I couldnt understand a word of what they were talking about, and had to trust that all those fees and such were legitimate. I wanted and needed a home, so I did what they asked…
Luckily, I was treated with respect and all went well. I cannot imagine what I would have done had I discovered later that my monthly bill was skyrocketing and my home, my children’s home, my neighborhood, my income and future income, my entire life would all be affected/taken away as a result.
As someone yelled on another thread about hoping all the people from other states would just get foreclosed on and “go home!”, this may very well happen to some of these foreigners, but is this the way we want to interact with the world?
Talk about a lack of morals… the mortgage industry needs some serious disciplining, and the average US citizen needs some cross-cutural sensitivity training.
