Over half of 2016 Bell County new foreclosures tied to VA loans
Every three months, Bell County Sheriff Eddy Lange gets to try out a second career: auctioneer.
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.
The same morning — just feet away from the sheriff’s sale outside the Bell County Justice Complex in Belton — was another group of potential investors at a monthly trustee’s sale, where properties with delinquent mortgages are sold for a higher price related to the unpaid mortgage.
Underpinning both auctions is a Bell County foreclosure market that is primarily filled by properties in one city — Killeen — and primarily owned by one class of homeowner — active-duty and former military with federally backed home loans.
Read more: http://kdhnews.com/news/local/over-half-of-bell-county-new-foreclosures-tied-to-va/article_7baa1c0a-53cc-11e7-84bd-8baab01b309d.html