McAllen foreclosures on the rise.
POSTED: Tuesday, November 3, 2009 - 9:48am
UPDATED: Thursday, February 25, 2010 - 12:34pm
A recent article calls McAllen an area with fast growth in foreclosures across Texas.
Some say the city recently named number 26 on CNN Money's Best Places to Launch List felt the housing crunch late in 2008. August and September of this year have seen a lot of foreclosures in the city ans some experts say it may only get worse with several adjustable rate mortgages. State Senator Eliot Shapleigh blames predatory lenders, devaluation and language difficulties along with racism.