When a foreclosure is started there is good reason. That means someone hasn’t paid their mortgage for some time period, normally many months. How do you just forget to make your mortgage payment?
I’m very concerned about someone that is going to have a leadership position in my state that just forgets to make rent or mortgage payments. There is another problem, how does someone get a home equity loan, with credit that has gotten trashed, as a result of a foreclosure. Are you telling me that Webster Bank will do a mortgage for someone that has had a recent foreclosure?
If that is the case, there should be people lined up at every branch. You know the old saying, “It is not what you know, but who you know.” I guess Chris Dodd and Chris Murphy know people.
Check out this article with the facts regarding Chris Murphy's foreclosure: