Chesterton Tribune

Sheriff's sales on foreclosed properties spiked again in 2009

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By KEVIN NEVERS

The struggling economy continued to take its toll on homeowners last year in Porter County.

In 2009 the Porter County Sheriff’s Police advertised 731 sheriff’s sales on foreclosed properties, an increase of fully 21 percent over the 603 advertised in 2008.

Those 731 sheriff’s sales exceed by 25 the number advertised in 2005 and 2006 combined: 705.

And it’s no surprise that since 2005 the number of sheriff’s sales advertised annually has trended upward: 347 in 2005, 359 in 2006, 493 in 2007, with huge upticks in the last two years, 603 in 2008 and 731 in 2009.

The plight of renters hurt by the economy, on the other hand, moderated marginally last year, as the PCSP was called to assist in 993 evictions, compared to 1,038 in 2008, a decrease of around 4 percent.

Even so, PCSP-assisted evictions remained high, with the 993 recorded last year 14 percent higher than the annual average of 869 recorded between 2005 and 2007.

Executions, meanwhile—court-ordered seizures of personal or real property on which there’s been a default, either to sell off directly or to hand over to creditors—dropped by 42 percent last year to 19, from 33 in 2008.

But put those 19 executions in context: there were only 10 in 2005, 11 in 2006, and one in 2007.

 

Posted 3/18/2010