St. Charles – Living St. Louis Video

Living St. Louis Producer Patrick Murphy visits the St. Charles community, which was until recently, a boom area for building and selling houses. Now, St. Charles is experiencing a rising number of foreclosures—leaving hundreds of new homes vacant. Murphy speaks with Developer Tom Hughes and County Executive Steve Ehlmann about the ripple effect that the mortgage crisis is causing throughout the area, and how the elements of this ripple effect are becoming a detriment to the home developing industry.

Frequently Asked Mortgage Questions

July 22, 2008

KETC’s Facing the Mortgage Crisis addresses some of the most frequently asked questions about mortgages and foreclosures. Click on the individual questions below for video answers:

• If you can no longer pay your adjustable rate mortgage, is it possible to call your lender and change your payments?
• What is the ripple effect on our community?
• Is this a bad time to be taking out an equity line of credit?
• How many people have been getting in trouble with “easy credit” scams?
• How can real estate taxes affect the ownership of a home?
• How is the mortgage crisis different in urban, rural and suburban areas of the region?
• Is a reverse mortgage a good idea for senior citizens?
• Are there any ways to adjust terms of a loan for a person that is employed at a new job that pays considerably less than their previous one?
• Is there a way to get my home back after foreclosure?
• When will the government be more willing to help people who are losing their homes?
• How does the mortgage situation ripple out and affect businesses?
• How long should we wait before we sell our houses again?
• Is it a good time for first-time homebuyers to purchase a house?
• Do you need to wait until you’re delinquent on a mortgage payment to get help?
• What resources are available to those who do not have extra money to spend on counseling?
• What are the options for people in the military who must move and sell their home?
• How long do you have to live in your home before you can get the help you need?
• Is there help when you just realize that you’re heading for financial trouble?
• What happens after you receive the first notice of default?
• Is this mortgage situation pushing people into the city or causing them to move further out of the city?
• Is the over-building in the city a good market to get into?
• Why should tax dollars go towards helping this cause?
• Do law enforcement agencies keep in touch with the organizations that are trying to fight the mortgage crisis?
• Is a moratorium a good idea?
• With the mortgage situation, is it ironic or does it stand to reason that St. Louis is named the 8th best market for real estate in the country?