Reporter looking to interview someone who's faced foreclosure (Monroe: real estate, foreclosures)

[mwr6348]

Hi all,

A friend of mine is a local television reporter looking to put together a segment on foreclosures in the Lehigh Valley. If anyone has been through this and would like to tell their story, whether you where a victim of circumstance, predatory lending, ect. she would like to hear your story. PM me if you're interested. Thanks in advance!

[poconoproud]

I don't know anyone personally, but if you search my threads, you will find a foreclosure study done for Monroe County in the Poconos. I know that is out of the Lehigh Valley, but it is very interesting.

It covers the commonwealth's response to the foreclosure problem, and identifies builders, developers, and financers who took part in pushing forward foreclosure rates in Monroe County.

One thing I wanted to know after reading it, was why don't any of the builders or developers involved have to fully disclose all of their business entities.

There were many builders listed that operate under many names - but the public only knows them as one, and therefore can not adequately research these companies.

Take for example Kal-Tac/Deck Creations/Gilbert Developers/Mountain Laurel Funding
from the list of builders. Research each and every one of those entiities and you come up empty, but now you have just researched 4 spin-offs of Blue Ridge Homes. Their publicly advertised name does not appear with the others on the foreclosure study - and the entities on the foreclosure study don't link publicly with Blue Ridge Homes.

[Summering]

Originally Posted by poconoproud

I don't know anyone personally, but if you search my threads, you will find a foreclosure study done for Monroe County in the Poconos. I know that is out of the Lehigh Valley, but it is very interesting.

It covers the commonwealth's response to the foreclosure problem, and identifies builders, developers, and financers who took part in pushing forward foreclosure rates in Monroe County.

One thing I wanted to know after reading it, was why don't any of the builders or developers involved have to fully disclose all of their business entities.

There were many builders listed that operate under many names - but the public only knows them as one, and therefore can not adequately research these companies.

Take for example Kal-Tac/Deck Creations/Gilbert Developers/Mountain Laurel Funding
from the list of builders. Research each and every one of those entiities and you come up empty, but now you have just researched 4 spin-offs of Blue Ridge Homes. Their publicly advertised name does not appear with the others on the foreclosure study - and the entities on the foreclosure study don't link publicly with Blue Ridge Homes.

Isn't that very interesting...........I've seen name changes in the middle of the night. Like that one builder that the sign changed from a birds name to an Indian name.........
I think it should be public knowledge what the past names of builders are.
We should be able to get all that right here online.
Some made so much havoc, buyers were so unaware.........

[poconoproud]

Originally Posted by Summering

Isn't that very interesting...........I've seen name changes in the middle of the night. Like that one builder that the sign changed from a birds name to an Indian name.........
I think it should be public knowledge what the past names of builders are.
We should be able to get all that right here online.
Some made so much havoc, buyers were so unaware.........

Their past names, and also business entities in addition to the advertised, publicly known name. People may not want to build with business A, if they know that is also doing business as business b, c, and d. It just seems like a way for them to hide in plain sight, and also a tax-shelter type situation -no?

[searchin4home]

What about the Tobyhanna area? Anyone familiar with that area at all?

I'm preapproved for a loan so I'm suspecting that I will not fall into this foreclosure nightmare. At least I hope not. I went with a well known lender that has been around for years.

I have noticed in the Tobyhanna area alot of chalet type homes but alot look they are in need of repair or have very small kitchens. I'm wondering if this is an area where people purchase homes just for skiing in the winter?

[poconoproud]

As long as your loan approval was based on your actual income, nothing inflated, and you have considered all taxes, dues and other costs that may be in addition to a mortgage payment, and you pay your bills - you will be fine! Is your loan akin to some that led to foreclosure? Those subprime loans are where the trouble is.

Tobyhanna is a nice area, and yes, Chalet's are the most common type of home in that area. I am sure you can find a newer home that is not in such need of repair, with a larger kitchen. Many of the homes are vacation homes, but a large percentage of the population lives and works right here in the poconos. Maybe you should contact a real estate agent, to help you find exactly what you are looking for. If you are looking to use one, dm me, and I will reccommend a real estate agent for that area that I know of.

good luck searchin' for home! Happy New Year!