A homeowner in Waukesha for 20 years, Steve is president of the Waukesha Dog Parks Organization and enjoys motorcycling, fishing and staying on top of politics.
I recently wrote about paying my taxes at the city hall. One thing that I was amazed at was a bulletin board apparently reserved for posting legal notices. It was full of foreclosure notices. So full, in fact, that I suggest that the council budget for a bigger bulletin board for this year.
I'm sure that each sheet of paper holds a story that that could bring pity. We are, after all, besieged by many businesses trying to get families to live to excess and extend their credit to the point of snapping. How ever did my parents raise two boys in a 750 square foot cape cod with no garage, one car, no cable TV, and no iPods? We probably could have afforded the iPods but they sent my brother and me to private schools.
Could it be the city's fault for these foreclosures? Many municipalities require huge houses on huge lots for reasons short of saying that they don't want the trash moving in. The rule used to be that your mortgage could not exceed 25% of your take home income. What is that now?
As a way to work around such rules, ARM's, adjustable rate mortgages were created. They are a way of enjoying excess for a while until the sheriff arrives with a moving van. Looks like we need more deputies. I wonder how that is paid for in the county budget?
