Home foreclosures in Lyon County have continued to rise in parallel to national statistics.
According to records in Lyon County District Court, a total of 102 foreclosures had been filed through the end of the day Monday.
That figure for approximately the first nine months of 2009 is 11 less than all of 2008, which produced a record total of 113 foreclosures.
Both numbers are significantly larger than in recent years, with 63 filings reported in 2006 and 82 in 2007. Foreclosures in 2004 and 2005, hand-counted rather than computer-generated, ranged between approximately 57 and 61, a court spokesperson said.
Although foreclosures remain high, the August national figures are down slightly from July’s record high. A total of approximately 1.9 million foreclosures had been filed through the month of August, according to reports from private companies that track those figures. The federal government does not keep foreclosure tallies.
The government, however, has developed a “Making Home Affordable” plan intended to help some homeowners refinance or modify their existing home loans.
An estimated seven to nine million homeowners may be able to benefit from the housing program, which is for homeowners who:
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reddog (K. B. Thomas Jr.) says...
Mr. Gary Post Lyon County Appraiser told me that he has recorded 100 sales so far this year with 40% selling above the Lyon County Appraisal. However, there were 100 homes that was not counted because they were foreclosed. According to Kansas Law these homes are not part of the equation and in my opinion, this is not fair taxation. A lot of these homes sold for 40% under the Lyon County Appraisal. It would be nice to see the Real Estate valuations published in the paper again now that property valuations are down. The next shoe to drop in the national economy is the commercial real estate wipeout. Several Trillion Dollars are at risk. 5315 U.S. commerical properties are in default, foreclosure or bankruptcy. This is more than double the number at the end of 2008. According to the Real Estate Round Table, a wave of loans made during the boom years are now coming due. $400 billion this year and more than 1.8 trillion by 2012. Two problems. The money for these commerical loans does not exist and worse than that is many of these properties are under water. When the public finds out about this, the stock market will plunge like never before. Thank goodness we live in a small midwest college town with industrial expanson and our growth will be slow growth but, slow stable growth is good growth. In the 1980s real estate crash, many Emporians became set for life by buying real estate when the clouds were very dark. These people didn't just buy real estate, they bought the future of Emporia and the future of America. The Emporia dream is not over. Emporia is an adventure. What's right with Emporia is the willingness to discuss what's wrong with Emporia. Give the Emporia people a good cause and there is nothing they can't lick.
October 1, 2009 at 11:58 p.m. ( permalink | suggest removal )