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Over half of 2016 Bell County new foreclosures tied to VA loans

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Foreclosure Auction

Bell County Sheriff Eddy Lange auctions off a property at the Bell County Justice Complex on Tuesday, June 6, 2017.

Every three months, Bell County Sheriff Eddy Lange gets to try out a second career: auctioneer.

Foreclosure Auction

Potential investors make notes on their inventory list during an auction at the Bell County Justice Complex on Tuesday, June 6, 2017.

On June 6, Lange was in charge of auctioning foreclosed property as part of the county’s quarterly sheriff’s sales, where properties with delinquent property taxes are sold sight unseen to the highest bidder at rock-bottom prices.

Foreclosure Auction

The facial expression of realtor Luis Montemayor signifies that he is done with that round of bidding on Tuesday, June 6, 2017, during an auction conducted by the Bell County Sheriff's Department.

Foreclosure Auction

Potential investors make notes on their inventory list during an auction at the Bell County Justice Complex on Tuesday, June 6, 2017.

Vacant Lot

A vacant lot, owned by the city of Killeen, sits Tuesday in Killeen.

kyleb@kdhnews.com | 254-501-7567

(8) comments

Idontdoresearchformyarticles

http://www.killeentexas.gov/files/Force-Reduction-Assessment-Report--14June2016.pdf

Do you really not even look at your own articles that you post? A big troop reduction might have an impact on the loans that those troops who no longer have jobs took out.

Btw, great job spending 6 figures on "hiring" a retired general for that study.

eyewatchingu

http://www.zerohedge.com/news/2014-11-01/hard-understand-1000s-veterans-busted-massive-benefits-fraud
That is just the start, I will post more truth about the Food stamp scam!

eyewatchingu

Back in the old Army, when my father and grandfather were in. Not Only did they tell the men about stds, they also taught the soldiers how to handle money. Sadly it has become a feeding frenzy for realtor companies and car sells men to sell, sell sell to these young men and woman. It also has become a big scam in the Army of having many kids so you can also collect welfare. KDH news, investigate how many officers and enlisted personal with ranks E5 and above collecting welfare. It will amaze you, it will make you sick to your stomach.

tlh

Builders need to be stopped from building new residences so homeowners can sell their properties instead of going into foreclosure.

Terryr

Scot is correct. The Army and the real estate community SHOULD be working with members of the military explaining the consequences of purchasing a home while in the military. We, of course, cannot discriminate and withhold home purchase because someone is in the military, but we can do a better job of letting the military member understand that if they should transfer then selling the property "could" be a risk in the Fort Hood area. We need people with financial experience to talk to ALL the military members to let them understand ALL of the options and then let the member make the decision.
Scot, great message.

Scot

Our junior military members should not be buying homes when their tours are just 2-3 years at Fort Hood. Specialists and Lieutenants are putting themselves in financial holes. Should they know better??? Their leaders should and should (and likely are) providing counsel. Rent your home!! But how have we allowed such a culture across the local real estate industry to see the hundreds of spec homes going up. It's a horrible cycle that has developed...retired military (often with DV tags and 100% property tax exemptions) become agents and sell to junior members that they should know are in no position to buy. Not exclusive to the retired realtor class - I listened to one well known realtor comments on how the junior military ought to be renting. It used to be the best deal in the world to get on-post military housing. Now we are offering it to those with ZERO military affiliation. This is surely a sign of a image/branding problem that "only suckers live on post, own your own house." The billboards that say "own your your house for BAH" are leveraging this to their (short term) benefit. Our whole community has a role to fix it - better code of conduct and ethics in the local realtor community (perhaps a code that recognizes that junior military should get additional counseling before purchase); city council sponsoring a study to determine which realtors have the most foreclosures (because those realtors cost the community aplenty over time), military leadership (CSMs!) who personally talk to their junior SPCs and SGTs) that living on post assures them financial security. I look forward to next year's article; if we do not take positive steps, the rate will only increase.

Bubba1

Let's not fling personal invective on Veterans, Disabled Veterans, Veterans with DV plates, or Realtors.
All of those involved here made their decisions and qualified for VA loans, the financial standards for which are fairly stringent. Further, Realtors already have a code of conduct as do Texas real estate licensees. Maybe you should go get your license before commenting further.

roodawgs98

Just because they have a code of ethics doesn't mean they apply it

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