Mortgage Foreclosures Drop in Wisconsin
Monday, January 9th, 2017 -- 8:03 AM
(AP) -Economists say mortgage foreclosures in Wisconsin have dropped to the lowest level since the 1990s.University of Wisconsin-Whitewater professor Russell Kashian tracks foreclosure filings and find that they've dropped to about a fourth of the foreclosures in 2009, the year they peaked at 28,500. Kashian says there may be some pockets of foreclosure trouble in the state, but overall it's no longer a problem in Wisconsin.
Kashian tells the Journal Sentinel an improved economy and job growth are key factors in the reduction. He says new rules governing home lending have also made it tougher for some borrowers to quality for mortgages. The loose lending practices that led to the foreclosure crisis and economic recession sparked new regulations. Kashian says some borrowers weren't necessarily ready to handle a mortgage.
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