Foreclosures in Town?
Posted by CityBlogMT on May 28th, 2007
Can anyone speak to the issue of foreclosures in Missoula, Montana? Foreclosures are up around the country due to the sub-prime lending practices. Is there any foreclosure impact on real estate in Missoula?
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There will always be foreclosures, as far as Missoula, the number has risen only slightly compared to other areas of the country. Of all loans only about 13% of those are in default, but the media makes it seem worse than it really is. The biggest problem with the recent foreclosures is that many of those people who could not afford the payments to begin with were able to get a loan. The guidelines were loosened too much.