Is another foreclosure wave heading for Baldwin?
As we showed in our reporting on Baldwin Township, more than 200 homes were foreclosed upon in the past three years.
Now comes the suggestion that a new wave of foreclosures is pending and that it will hit exurban areas like Baldwin particularly hard.
Thanks to the Minnesota Home Ownership Center for pointing out some Minnesota Housing Finance Agency findings.
The ring of exurbia is where the number of non-prime adjustable rate mortgages that haven't reset is concentrated. A stubborn unemployment rate in those areas hasn't helped.
Does this ring true? Anybody see it happening yet?
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