Jump to navigation Jump to content

Delay of foreclosures hurts neighborhoods

Delay of foreclosures hurts neighborhoods

A delinquent property in a neighborhood brings down property value. This may be caused by homeowners letting home maintenance slip because they cannot keep up with mortgage payments. It may also be because people suspect a short sale or foreclosure sale in the near future.

This effect can come into play with the homeowner is as little as 90 days delinquent. The effect does not remain once foreclosure has actually occurred. The neighborhood may not be greatly affected by a single home in the area but if your neighborhood has a lot of foreclosures happening within a small area, the effect will most certainly be greater.

There is no fix all solution for this problem. The slower the foreclosure process, the more affect other area homeowners will feel. However, cutting down on foreclosure time is also in turn cutting down the time that a homeowner can be delinquent before a foreclosure will occur. Both sides are important matters that need to be considered in any changes in the foreclosure process for lenders.

For Current Clients

Our Locations

St. Charles Office

1861 Sherman Drive
St Charles, MO 63303
Phone: 636-916-5400

At Hwy 94 and Hwy 70.

Get Directions | See Detail

St. Louis Office

3470 Hampton Ave, Suite 101
St. Louis, MO 63109
Phone: 314-353-0834

Close to the corner of Hampton Ave and Chippewa. By appointment only.

Get Directions | See Detail

South & Jefferson County office

7321 S. Lindbergh Ave., Suite 222
St. Louis, MO 63125
Phone: 636-916-5400

Across the South County Mall.

Get Directions | See Detail

Florissant Office (North County)

1281 Graham Rd, Suite 300
Florissant, MO 63031
Phone: 314-921-1880

At North Hanley and Hwy 270.

Get Directions | See Detail

Belleville Office (St. Clair county)

2 Park Place Professional Centre
Belleville, Illinois 62226
Phone: 618-977-9560

On Hwy 159, next to Schnucks.

Get Directions

Granite City Office (Madison County)

3600 Nameoki Rd, Suite 201
Granite City, IL 62040
Phone: 618-977-9560

Across Shop'n Save, by appointment only.

Get Directions | See Detail

Follow Us On