Charlotte, NC Real Estate - Charlotte Foreclosure's

The Charlotte Observer recently had an article on the high foreclosure area around Charlotte and most were from new communities under $150,000 in West, North and East Charlotte. The areas are outside of I-277 and inside I-485 and where the proposed I-485 will be going. It is very unfortunate for familys who were able to be apart of the American Dream and own a there own home to then have it taken from them and ruin there credit for a period of time. Apparently unethical lending practices helped family's obtain loan approval even though they were considered High risk borrowers. In one sence this was an opportunity for these family's to prove themselves successful and get over a financial hump and own a home but circumstances, emergency's, etc. come up and if one missed payment turns into another missed payment etc. until the bank forecloses on your home. If you were a High Risk borrow and was able to purchase a home then I encourage you to always make your home payment first. Seek help if your facing a financial situation early and do whatever it takes to not foreclose. Get a 2nd job or reevaluate your income situation and seek a higher paying job and if you feel the monthly payment is too much of a stress talk to a Realtor about selling your home. I will talk about what happens to a community in a high foreclosure area next. Please call Matt Sarver with Keller Williams Realy if you have any questions or visit http://www.MattSarver.com