Proactive Measures In Des Moines To Help Foreclosure Victims

March 20th, 2008 | Tags: Foreclosure Victims

The capital of the Iowa state is Des Moines – also the seat of Polk County. The City Council has taken a proactive stand towards tackling the growing foreclosure problem. In 2007 there were 1,013 foreclosure listings – an 18% jump from 2006. This was obtained from the records of the Sheriff. The city fathers are anxious about vacant houses becoming public nuisances and also causing a sharp drop in property values. The City Council is increasing assistance towards public housing measures. Awareness is being spread through newsletters, television broadcasts and websites. Also classes are being held involving the residents. As yet they are unwilling to call it a crisis but it may soon become one. A hotline number has been kept running.

This community outreach programme initiated recently aims to help those who are buckling under foreclosures. There was a City Council meeting to analyze the fall over from the recent mortgage crisis. No area of the city has been spared though there have been variations in concentrations in some pockets. As compared to 2006 there has been an increase of 75% in the Easter Lake region in the southeast Des Moines.

The Mayor of Des Moines, Frank Cownie has suggested that the city council schedule their meetings in all the four wards of the city and cooperate with the churches and other local community groups to make the residents aware about the options they have to ward off foreclosures.

A suggestion came from The Academy School for leasing out the former Science Center building situated in Greenwood Park. The council will have to vote on this matter. The school has $2 million plans to renovate the property. In the plan is included designs for adding another elevator. To lease the upper floor The Academy will offer $52,473 but will in all probability also lease the lower floors in the future. During the 20 year lease the rent will increase by 3% each year. The responsibility of maintaining the entire block will be in the hands of the school. The payments will start from the 1st August when classes commence. 114 students will be enrolled.

Like many other states and cities action is taken at the grass root level to improve the real estate health of the region without waiting for federal action. Time is of crucial importance and hence this sense of urgency. The foreclosure wave is hurting the entire country at all levels of the society and economy.