The Foreclosure Weather is not so Bad in Oklahoma

August 20th, 2009 | Tags: Foreclosure

foreclosure weather

The foreclosure weather is not so bad in Oklahoma. This means fraud numbers are also less. At the root has been sober lending. Oklahoma is not sitting helpless in the face of inflated property values, flipping, shrewd scheming and falsification of documents because all this hardly happened.

Most Americans have been made to believe that an almighty force named the federal government can bring back sanity to the housing market. It is sometimes to turn to God and find an escape route. But our fate is in our own hands. It is not that there has not been a rotten apple in Oklahoma. But it did not spoil the whole lot. The greedy ones will always be there and draw few others into its gang. There will be rats on each ship and few bad apples in each barrel.

But broadly speaking Oklahoma did not get drunk on the frothy housing brew. Thus when the bubble burst Oklahoma did not have a hangover the next morning rubbing eyes and wondering what had happened with a groggy brain.

Oklahoma has its share of skeletons like others. But it remained in the collective cupboard as harsh reminders. It prevented the local lenders from getting intoxicated drinking the housing brew. This led to fewer mortgage frauds. There were some scams but there is always the black sheep in the family – the odd one out.

In the 80’s however some Oklahomans did get drunk but the horror stories of questionable business methods, soured loans and bad days remained in the collective memory preventing a rerun of the same.

Today Oklahoma ranks 35th among the states in the foreclosure race in the middle of this current year according to RealtyTrac. Oklahoma can live with that and with some of the fraud that comes with it. The Federal Bureau of Investigation and the local personnel of Oklahoma Property Records Education Partners sat across the table last Friday 17th June 2009 to share their collected information.

All sensitive beings know it is more than a tragedy when one loses the house that is the home. It is akin to losing a loved one. Some homes are being swallowed by foreclosures and few others gobbled by scam but in comparison to California, Florida and Nevada the drama is on a much lower key in Oklahoma. It is milder than what took place in Oklahoma itself one generation past. So far at least the going has been good.