Anderson County Being Affected by Foreclosures (Part II)
July 3rd, 2009
The neighborhood-stabilizing program will serve to gain rehabilitation properties and develop properties to reduce the fall in the values of the homes. Anderson City Council Members consider the issue of foreclosure crisis to be of top priority for the current year as observed by Mayor Terence Roberts.
According to him, the various residents coming from different professions are facing the same problem with repayment of their mortgages. Cindy Wilson considers that the Anderson County is actually not so badly affected by the crisis of foreclosures. Moreover, the council of the County does not seem to come up with any major legislative moves to counter this situation of foreclosure crisis in Anderson County.
Cindy Wilson, a member of the Anderson County Council, said the council is not considering any sweeping legislation to regulate lenders. She said Anderson County has not been hit by the foreclosure crisis as much as other parts of the country. She believes that the Anderson County will be among those counties that will recover from this economic crisis faster. The council will accordingly render services to reduce the tax burdens of the residents of the county.
The vice president of Charles River Association International in Washington D.C., Marsha Courchane commented that the ones hit by the crisis of loans and mortgages should approach the ones lending the money, as they are the only ones who can work out a feasible plan to ease the situation for the borrowers. Since the occasion of great depression in the 1930s the nation has been hit by the crisis of housing and loans while the foreclosures are steadily gaining in momentum throughout the country.
Courchane further observed that, “The residents worried about the fact that their house price has fallen should not be worried. The house prices will rise again.”
Anderson Interfaith Ministries director for services is Nancy Henderson and according to her, the organization makes utmost use of Emergency Food and Shelter Program fund. This organization has also paid a month’s installment for at least 14 families who are apparently troubled by mortgage scenario.
Courchane further emphasized that the majority of the residents who have some property for investment do not have to worry much about the long term values as concerns those homes.
Usually the homeowners come to her organization for help when they are apparently two or three months lagging behind in their loan repayments as mostly the lenders commence the process of foreclosure at that point of time.
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