BACKUS - Cass County Assessor Steve Kuha reported Tuesday to the county board the number of property foreclosures have leveled off here.
The number of foreclosures jumped 74 percent from 2006 to 2007, but likely will not rise more than another 20 percent from 2007 to 2008, he said.
Further evidence is that 32 Cass properties went into foreclosure the third quarter last year and 33 did so the third quarter this year. The vast majority of foreclosed properties were worth $400,000 or less. A third involved mortgages under $100,000.
Slightly more than half each year were homesteaded properties. Two the third quarter this year were commercial properties. Only one property in third quarter 2007 and one in third quarter 2008 involved a property valued over $1,000,000.
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