Foreclosure juggernaut may be slowing | BrainerdDispatch.com | Brainerd, Minnesota

Foreclosure juggernaut may be slowing

Posted: December 7, 2011 - 9:14pm

Foreclosures in Crow Wing County may be headed in a welcome direction.

“I am finally seeing a measurable downward trend,” said Kathy Ludenia, Crow Wing County recorder. “The average of sheriff’s certificates (foreclosures) for the first half of 2011 was 36, and the average for the second half of the year to date is 24.”

In November, there were 22 foreclosures and 33 notices of pendency that indicate a foreclosure is coming. Compare that to 34 foreclosures and 30 pending foreclosures in November of 2010. Two years ago in November, there were 45 foreclosures and 41 notices of pendency.

With one month’s numbers yet to post before a yearly total is known, Crow Wing County had 340 foreclosures as of November.

Foreclosures by year in Crow Wing County:

• 1998 — 44.

• 1999 — 39.

• 2000 — 43.

• 2001 — 39.

• 2002 — 60.

• 2003 — 63.

• 2004 — 68.

• 2005 — 101.

• 2006 — 142.

• 2007 — 231.

• 2008 — 356.

• 2009 — 351.

• 2010 — 388.

There would have to be 48 foreclosures in Crow Wing County in December to match 2010’s numbers. Although a slight drop in foreclosures in 2009 was not an indicator of an overall trend as 2010 had the highest foreclosure numbers recorded since Ludenia began keeping the numbers in the county in 1998.

Notices of Pendency provide a look at future foreclosures as they indicate one is pending. Numbers there have been declining. Including November’s numbers, Crow Wing County posted 435 notices of pending foreclosures for the year to date. There were 590 notices in 2010 compared to 644 for 2009, 576 in 2008, 427 in 2007 and 273 in 2006.

RENEE RICHARDSON may be reached at renee.richardson@brainerddispatch.com or 855-5852.