Crow Wing County foreclosures hit level not seen in at least 84 months
Foreclosures in Crow Wing County did something in January that hasn’t been recorded in at least seven years.
There were nine foreclosures in January. It’s the first time in at least 84 months the number of foreclosures was in single digits.
Kathy Ludenia, Crow Wing County recorder, said it’s a good start to keeping the foreclosures in the county below the 2013 average of 16 per month.
The notices of pendency in January, which indicate a foreclosure is likely, reached 24.
Comparing those numbers to recent years, there were 14 foreclosures and 36 pending notices in January of 2012. A year earlier, in 2011, there were 27 foreclosures in January and 40 pending.
It’s a changing of the tide since foreclosures routinely pushed into the 30s or higher.
In 2013 — for the first time since 2007 — Crow Wing County had a month with fewer than a dozen foreclosures. It was a milestone repeated four times in 2013.
There were 192 foreclosures in all of 2013. The highest number of foreclosures during the past seven years came in 2010 with 388 homes being foreclosed upon. The highest single month total also was recorded in 2010 with 57 in September alone. To get a perspective, there were 60 foreclosures during the entire year in 2002.
In 2009, 645 property owners received a notice a foreclosure was looming. By the end of that year, 352 would actually go into foreclosure.