Foreclosure numbers in Crow Wing County not dipping yet
At the end of 2011, it looked like the foreclosure juggernaut was slowing down.
Foreclosures in Crow Wing County were half previous years’ numbers and, perhaps more importantly, the notices of pendency — which indicate how many foreclosures are in the pipeline — had started to drop compared to monthly totals for the same time in the previous year.
The number of foreclosures in November equaled 22 compared to 34 in November of 2010 and 45 in November of 2009. However, mark that next to the 43 foreclosures for the entire year in 2000.
The latest numbers show there is still steam in the foreclosure engine.
In Crow Wing County, 29 foreclosures were reported for December. But there were 47 notices of pendency for the last month of 2011.
How do the most recent numbers compare to recent years? There were 26 foreclosures in December of 2010 with 44 notices of pendency and 20 foreclosures in December of 2009 with 36 notices of pendency.
After a welcome fall in foreclosure numbers in late summer, which saw 38 foreclosures in July drop to 16 in August and 18 in September, the hope was for the beginning of a downward trend.
Kathy Ludenia, Crow Wing County recorder, said there is a positive statistic in the latest data and it comes from the yearly totals as 2011 dropped below 2010’s total foreclosures in the largest decline in foreclosures in nine years.
As 2000 gave way to 2001, the foreclosures totals dropped from 43 to 39. But the foreclosures started going up each year until 2009 had five fewer foreclosures than the previous year’s 356.
In 2010, there were 388 foreclosures in the county. For Ludenia, the positive sign comes from the 18 fewer foreclosures in 2011 with a year-end total of 369.