Anderson County In The Jaws Of Foreclosures
Anderson County is right in the jaws of foreclosures. About two decades ago there were only 8 foreclosures in a month. Today the norm has become 80 to 100 foreclosures per month. The situation is undoubtedly critical commented Carolyn Lecque of South Carolina Foreclosure Task Force. It seems that apart from the formally listed ones there are hundreds of others waiting in the line that are just about to enter the dreaded foreclosure zone. As regards foreclosure increases South Carolina stood 35th. The Greenville metropolitan statistical area ranked 88 among the top 100 MSA’s chosen by RealtyTrac. Columbia and Charleston were placed 77th and 93rd respectively. Sale of houses had dropped by 28.5% In Anderson County from April 2007 to April 2008.
RealtyTrac reported that across USA the number of foreclosures have jumped by 121% during the second quarter of this year in comparison to the same period in 2007. The problem is infecting the Upstate region also. It seems that the increase in foreclosures is because of ‘creative financing’ that has been putting brakes on the economy.
The National Public Radio interviewed Elaine Worzala of Clemson University during the time lenders were aggressively peddling their loans At that time she had asked the people to opt for renting houses but hardly anyone listened against the backdrop of a near hysterical propaganda about owning houses to realize a great American dream. At that point the people just did not want to listen to anything else.
Experts say that apart from loose lending practices the high price of fuel and food is telling on the people’s pocket. Added to this are the usual crosses of unemployment, illness and death. All these factors have combined to force people to stumble on their mortgage payments and end up with foreclosure.
The story of housekeeper Joyce Lusk is one of many sad tales When business slowed down in Oconee Memorial Hospital she lost her job. Migraines haunted this 59 year old, preventing her from getting suitable occupation Soon she found herself five months behind on her mortgage loan. She made futile appeals to her lender to consider her position, reduce her monthly commitment and give her time until she got a regular job. Today foreclosure is knocking at her door. She bemoans, “I don’t understand why they don’t want to work with me. Why do they want to take the house when the house is going to sit there for God knows how long?”
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