Foreclosures down in May, but more loom
Crow Wing County had 25 foreclosures in May, which was down compared to previous springs.
But the notices indicating a foreclosure is near at hand were higher than last year and nearly equaling numbers posted in 2010. The county had 33 foreclosures in May of 2009 and 28 for that month in 2010.
Notices of pendency indicate a foreclosure is in the works. Homeowners may still have options and be able to work out details to keep their homes. For others, the writing is already on the wall that the home will go back to the bank. But the notices provide an indicator of what the future may hold.
In May, Crow Wing County had 47 notices. In May of 2011, there were 41 notices. In May of 2010, there were 48.
We had 25 Sheriff’s Certificates for May. The Notices of Pendency were 47.
Sheriff’s Certificates for May of 2011 were 33 and Notices were 41. Sheriff’s Certificates for May of 2010 were 28 and Notices were 48.