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Charlotte Foreclosure Homes Rising, TARP Not Helping
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by cassy82 | September 9, 2009 at 07:49 am
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The number of Charlotte foreclosure homes rose another record high in August. Industry experts said that the federal government’s Troubled Asset Relief Program (TARP) failed to prevent thousands of homeowners in North Carolina from losing their properties to foreclosures.
The increase in the number of Charlotte foreclosure homes last month indicated that the federal government’s Troubled Asset Relief Program (TARP) is not working as expected, according to industry experts.
Statewide, the number of foreclosure filings increased by 43 percent in August compared to the same month a year ago. Mecklenburg County foreclosure filings rose by 80 percent last month.
Industry experts said that the foreclosure problem, which triggered the nationwide recession, started with subprime loans that were issued to borrowers with questionable credit and payments that they could not afford.
By Cassiano Travareli
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Indira persaud (not verified)at 17:49 on September 30th, 2009
Since TARP passed banks are not willing to work with owners and foreclosing even if they are only one month behind their payment.. Please investigate why they are refusing to work with owners.. Check out Ft. Myers and see how many hotels and commercial properties that were forclosed on recently..