Cox Discusses Rise of Foreclosures on MPR

Mortgage foreclosures are up in the Twin Cities and across the country, and one expert warns it could be just the tip of the iceberg. Prentiss Cox discussed the implications for neighborhoods and the economy as a guest on Minnesota Public Radio's Midmorning Show on December 19th. According to Cox, faulty appraisals are a growing problem and the Minnesota Department of Commerce is facing pressure from federal regulators to deal with a backlog of complaints. "When you have so many complaints like that and you don't follow up, you're sending the message that there's not a consequence for engaging in the behavior."