Springfield....635 foreclosures last 12 mo.

[2beamissourian]

I am glad I work with small children .. lol at least most of the time I know what I am talking about with them!

I could not NOT be a real estate person..to many laws too much info to keep up with!

Lake Junkie is a good person and knows her stuff........... Shes someone I trust

[greggoff]

Hello,
I just found this site, and see that you are looking for deals.
Due to health reasons, we are getting ready to walk away from our house. we are seeing an attorney today, and have considered the auction route.
we have just ran adds in the papers.
we have 40 acres , a 2400 sq ft house 10 years old, outbuildings, centural air/heat, oak wood floors through out. 3 bed, 3 bath. two master suites, one with huge whirlpool, jetted tub (oversized) mobil home hook ups.
in dec, it was appraised for 229.000 the apraiser aparantely cant read the tape because he shorted the square footage of the house by aprox 400 ft.. so by his own standars ( per sq ft cost) that would make the house around 245,00
we have decided in an effort to save our credit. we would put 20,000 with what we owe on it, and sell the 20 acres for 169,900 .and the additional 20 acres could go for 35000
we have a neighbor interested in the other 20
it has marketable timber, a very nice place.
you could contact us via our web site ( we use to sell dogs) at French Bulldog Puppies For Sale
we are abouta 45 min from springfield, 25 min from marshfield.

[Randy Henderson]

The forclosure rate is high because incomes here are relatively low. Over the last few years, lenders have been making a lot of 2 different kinds of loans. First they took people that should have bought a 150k house and put them in a 230k house by using interest only loans and artificially low interest rates in the first years. Second, they made loans to people that - well, just shouldn't have had loans in the first place. Folks with sub 600 credit scores.

The people with the low loans are now looking at a payment far higher than they can afford, and no equity in their home. The poor buyers are falling back on old habits of irregular payment history.

Since the common thread with both types of loans was little or no money down, there is no real fear or recourse to these buyers to walk away from the homes.

[Hockeynut]

Sorry to post a little late but dont sweat it Lake Junkie. You are one of the friendliest and most knowledgeable people on the site. You go out of your way to answer questions and provide very good advice. I dont think you were being called liar but even if that was the case everyone here knows you speak the truth. A big Booyah Kasha to you