South Carolina Leads the Nation in Foreclosures
Three Palmetto State municipalities rank among the worst in the nation, with Columbia at the top of the list.
Three Palmetto State municipalities rank among the worst in the nation, with Columbia at the top of the list.
5 comments
well isn’t this something to be proud of?
I’m all for tax reduction, but there is clearly something more going on behind the foreclosure stat than taxes and gas prices. Pretty sure the gas prices are affecting all the other southern states in a fashion similar to SC. I think Tennessee & Florida are the only southern states without an income tax (add Texas if you include them as southern). So I’d like to hear from someone who has examine the broader economic picture to see what is putting us in this situation.
I feel quite certain that the reason for a home foreclosure is the failure of the homeowner to pay the mortgage payment. Regardless of whether South Carolina is first, or last, in the nation in home foreclosure rates – it comes down to simple economics. Make your house payment on time, every month, and no foreclosure. This is exclusively a matter of budgeting and priorities. It has nothing to do with gas prices, the military conflict in Iran, Lindsay Graham, or whoever may be currently occupying the White House.
I am glad that you are so well off that your budget is balancing. A lot of folks are struggling due to increase in gas, groceries and everyday life, which inevitably will affect $ for their mortgage payment. So there is your economics lesson.
Don’t worry, when the bottom falls out from under the economy (thanks Trump!) then we’ll see how SC does with some real competition.