Ok- lets start with a quote from Judge Judy, "If it does not make sense its not true!" and in this case if all the facts are not presented how can we know what makes sense?
Here is what Kris Brogan posted yesterday:
"Kris Brogan:
The latest City of Minneapolis Trends Report is now available. Good news and bad news regarding foreclosures: This quarter 216 properties were sold at public
auction, 30.5 percent fewer than the previous quarter, and 46.7 percent fewer than second quarter 2012. This is lowest count recorded since Minneapolis Trends began reporting foreclosures in 2006. Wards 4, 5, 8, and 9 accounted for more than 50 percent of total foreclosures in the city, with Ward 4 accounting for about 25 percent of the total. Sadly the 4th Ward continues to be #1 in foreclosures."
Let start with some facts. The first being that we all know foreclosures take lots of "real" time from start to finish. Kris Brogan knows this fact as she has had a home foreclosure. The process starts and once all documents are in place and the foreclosure is in effect the home owner has a six month redemption period, Kris knows this also as she had the same period. If at the end of that six months the residents of the home have not left the mortgage holder is forced into more legal action that of course takes more "real" time, again Kris knows this, she didn't leave on her own free will either and was forced out. So from start to finish its safe to say that a foreclosure can take 6, 8, even 10 months of real time from start to finish. This being said the numbers and percentages Kris Brogan posted, logically are not reflective of the current quarters foreclosures.
Second, Kris Brogan ends her post with "Sadly the 4th Ward continues to be #1 in foreclosures" - yes Kris that is sad, however lets also look at the fact that the current city council member back in 2007 (6 years ago) not only noticed there was bad mortgage deals going on but gathered the evidence, handed it over to Feds. and testified against them! At this same time Mick and Kris Brogan opted to strip the equity in their south Minneapolis home and start a business. Kris having worked in the world of mortgages and realty certainly cant claim ignorance of bad loans on this one! So while the current administration was fighting to stop illegal lending practices and educate home owners on these nasty lending practice of stripping equity out of homes, a well educated in mortgages and home loans Kris Brogan was out stripping her equity? Make sense?
Today as Kris Brogan chooses to stand in judgment of the number of foreclosures in North Minneapolis with the blood of her own foreclosure still dripping from her hands she wants us to believe that the numbers she has posted are some how reflecting that the current administration didn't do enough or hasn't done enough to stop or slow down these numbers? Of course Kris makes no mention of any dealings she has had in "selling North Minneapolis" during this time!
Third, typical of Kris Brogan, when she posted the numbers above she left out a few key facts! The most important being that since the numbers are "Trend Reports" they are composed to show a direction, a way that the markets are heading in other words its like a stop light on the corner- it has stop, slow, and go, it does not tell us anything more then that, it does not tell us if there is a reason traffic is slow or at a dead stop. The Trends Report shows that foreclosures are either going up, down, or the same. It also does not tell us that the 4th ward was the target for most of the above mentioned fraudulent mortgage deals because of its size and the number of low income homeowners! One would not expect a lot of home foreclosures in say, Downtown Minneapolis or industrial areas would they?
One last thing, Kris Brogan who we have reported before works in bringing low income housing and residential housing to the north side has been doing so for many years. She knows the neighborhoods inside and out, that's what she wants her clients to think anyway. So once again using logical thinking, someone working in realty and mortgages on the north side of Minneapolis especially during the time so many people were targeted for fraudulent mortgages would have been alert to these problems back in 2007? Wouldn't you logically think that when Mick and Kris Brogan went to take out a home equity loan to start Papa's Pizza that Kris Brogan would have been on high alert as to how not to loose their south Minneapolis home to a bad loan? Logical thinking would tell us Kris and Mick Brogan had only one intention when taking out that home loan and that was to strip the equity and leave the mortgage company holding the bag! Once again standing in her favorite place as the VICTIM, It is stunts like this that cause mortgage rates to raise isn't it?
Let start with some facts. The first being that we all know foreclosures take lots of "real" time from start to finish. Kris Brogan knows this fact as she has had a home foreclosure. The process starts and once all documents are in place and the foreclosure is in effect the home owner has a six month redemption period, Kris knows this also as she had the same period. If at the end of that six months the residents of the home have not left the mortgage holder is forced into more legal action that of course takes more "real" time, again Kris knows this, she didn't leave on her own free will either and was forced out. So from start to finish its safe to say that a foreclosure can take 6, 8, even 10 months of real time from start to finish. This being said the numbers and percentages Kris Brogan posted, logically are not reflective of the current quarters foreclosures.
Second, Kris Brogan ends her post with "Sadly the 4th Ward continues to be #1 in foreclosures" - yes Kris that is sad, however lets also look at the fact that the current city council member back in 2007 (6 years ago) not only noticed there was bad mortgage deals going on but gathered the evidence, handed it over to Feds. and testified against them! At this same time Mick and Kris Brogan opted to strip the equity in their south Minneapolis home and start a business. Kris having worked in the world of mortgages and realty certainly cant claim ignorance of bad loans on this one! So while the current administration was fighting to stop illegal lending practices and educate home owners on these nasty lending practice of stripping equity out of homes, a well educated in mortgages and home loans Kris Brogan was out stripping her equity? Make sense?
Today as Kris Brogan chooses to stand in judgment of the number of foreclosures in North Minneapolis with the blood of her own foreclosure still dripping from her hands she wants us to believe that the numbers she has posted are some how reflecting that the current administration didn't do enough or hasn't done enough to stop or slow down these numbers? Of course Kris makes no mention of any dealings she has had in "selling North Minneapolis" during this time!
Third, typical of Kris Brogan, when she posted the numbers above she left out a few key facts! The most important being that since the numbers are "Trend Reports" they are composed to show a direction, a way that the markets are heading in other words its like a stop light on the corner- it has stop, slow, and go, it does not tell us anything more then that, it does not tell us if there is a reason traffic is slow or at a dead stop. The Trends Report shows that foreclosures are either going up, down, or the same. It also does not tell us that the 4th ward was the target for most of the above mentioned fraudulent mortgage deals because of its size and the number of low income homeowners! One would not expect a lot of home foreclosures in say, Downtown Minneapolis or industrial areas would they?
One last thing, Kris Brogan who we have reported before works in bringing low income housing and residential housing to the north side has been doing so for many years. She knows the neighborhoods inside and out, that's what she wants her clients to think anyway. So once again using logical thinking, someone working in realty and mortgages on the north side of Minneapolis especially during the time so many people were targeted for fraudulent mortgages would have been alert to these problems back in 2007? Wouldn't you logically think that when Mick and Kris Brogan went to take out a home equity loan to start Papa's Pizza that Kris Brogan would have been on high alert as to how not to loose their south Minneapolis home to a bad loan? Logical thinking would tell us Kris and Mick Brogan had only one intention when taking out that home loan and that was to strip the equity and leave the mortgage company holding the bag! Once again standing in her favorite place as the VICTIM, It is stunts like this that cause mortgage rates to raise isn't it?
