posted by Joe Polk at 11:03 PM /
Foreclosures in middle and upper middle class neighborhoods are taking off. In fact if you take a drive down an upper middle class town like Hampton Township -- you might be surprised that banks and lenders foreclosed on some 30 homes last year -- up from two just seven years ago - proof positive that the foreclosure crisis is hitting the well-to-do as well as the working class.
Bethel Park went from 12 to 38 and Mt. Lebanon from 10 to 25.
Link: www.kdka.com/kdkainvestigators/Foreclosures.wealthy.communities.2.790468.html
Bethel Park went from 12 to 38 and Mt. Lebanon from 10 to 25.
Link: www.kdka.com/kdkainvestigators/Foreclosures.wealthy.communities.2.790468.html
Labels: foreclosure, real estate
1 Comments:
Don't forget, although most sub-prime ARMs and interest-only loans reset their rates/payments in 2007. Most of the prime ARMs and IO loans won't reset until 2009.
I wonder how many Lebo mortgages will have big monthly payment jumps next year?
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