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Many towns like Lakeville and Burnsville do not have the resources to see to the many vacant foreclosed houses that are not only eyesores but also posing health problems to an extreme point.
The foreclosure crisis in USA that has so far been focusing on Arizona, California, Nevada and Florida is spreading its wings to engulf new other states.
In the wake of increasing job cuts in the US, foreclosures have touched a record high in the first quarter. This was revealed by RealtyTrac. A sum of 803,489 houses has received a default notice and some were even seized. The number is 24 per cent more than previous year, according to the California-based agency.
Despite the grim foreclosure climate, Shore Mortgage dealing with real estate is hiring people. It is not doing badly. Based in Birmingham it is doing well considering the staggering foreclosure scenario in Michigan. Shore is targeting to hire about one hundred employees soon as it forays into new regions with deals and increased operations.
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