If you've been reading the papers about the continuing fallout in the economy from the growing number of homeowners unable to make their mortgage payments, chances are you weren't reading the Santa Fe New Mexican or Albuquerque Journal. This isn't to say that there haven't been any articles in the state's oldest and largest papers on what the Wall Street Journal has dubbed the "Mortgage Mess"-- there have been:
-Mortgage borrowers, brokers facing higher hurdles to home loans-- By Michael Liedtke August 17, 2007 The New Mexican
-First Magnus kaput, but Frost Mortgage still afloat -New Mexico Business Weekly - 4:11 PM MDT Friday, August 17, 2007
-Thornburg Supposed to be safe August 19th, 2007 By Winthrop Quigley Copyright © 2007 Albuquerque Journal; Journal Staff Writer
-Spotlight Shines on Low-Profile Firm August 19th, 2007 By Winthrop Quigley Copyright © 2007 Albuquerque Journal; Journal Staff Writer
Few of these articles have been by local reporters and those that were by local press, covered the story from the angle of investors in the stock market or prospective home buyers, leaving the most pressing questions not just unanswered, but unasked; How many New Mexicans are in default on their mortgages, why and what can they do?
According to RealtyTrac.com, which describes itself on its website as the #1 source for foreclosure listings, tracking homes in default (late mortgage payment) to pre-foreclosures, bank foreclosure and foreclosed homes via auction
- Santa Fe County has 76 properties listed in Pre-foreclosure, 2 properties in Auction and 57 Properties as Bank owned.
- Bernalillo County has 529 properties in Pre-Foreclosure, 182 in Auction and 806 Bank owned.
- Chaves County has 47 Pre-Foreclosures, 2 properties in Auction and 61 properties Bank owned.
- Cibola County has 7 pre-foreclosures and 1 property in auction.
- Curry County has 4 properties listed in Pre-foreclosure.
- Dona Ana County has 90 properties in Pre-Foreclosure, no properties in auction (yet), but 68 listed as Bank owned
- Sandoval County has 141 properties in Pre-Foreclosure, 12 properties in auction and 73 properties Bank owned.
- Valencia County has 86 properties in Pre-Foreclosure, 16 properties in auction and 111 Bank owned.
Technorati Tags: economy, Subprime-Mortgage, mortgage
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