According to figures provided by the Jackson County Registrar of Deeds, Mindy Reilly, the number of Sheriff's Deeds being filed is trending down! A piece of good news in a pretty volatile housing industry.
The numbers:
Filings for the first 6 months of 2008 = 714
Filings for the last 6 months of 2008 = 538 **A drop of around 25%!**
Filings for December 2007 = 105
Filings for December 2008 - 45 **A drop of almost 59%!**
The reasons for the drop-off could be related to several factors:
1. Some mortgage companies have suspended foreclosures temporarily so they can work with homeowners on avoiding foreclosure.
2. Some mortgage companies have stepped up their efforts to reach out to homeowners and re-structure their loans.
3. It is possible that the bulk of the "predatory" loans that have been so prevalent the past few years are working out of the system.
Whatever the cause, it is good news. Fewer foreclosures means more homeowners, less vacant homes and maybe the start of a recovery for Jackson!
What are your thoughts?
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