Foreclosures Continue to Climb

What goes up-apparently goes up some more.

That seems to be the rule on foreclosures in St. Joseph County.

Lt. Andy Pletcher had the kind of day any real estate agent would envy. He sold more than 40-homes on Thursday.

But Pletcher isn't in real estate, he's in law enforcement.
All his sales are court ordered.

The latest auction of foreclosed properties marked the continuation of a disturbing trend.

For two years in a row, St. Joseph County has set a new foreclosure record.

In 1992,
There were only 211 foreclosures.

By 2002, the number had climbed above 1,000.

It didn't take long for foreclosures to hit 1,500--that happened in 2005.

And in 2006
They stopped at 1,925--just shy of two thousand.

"I thought this year would slide down really," said Pletcher, "cause all the taxes are said and done. Over with. They know what they have to pay."

Pletcher's office has already processed 679 properties this year, and it's only March.

The numbers on foreclosures are high throughout the state of Indiana.

In fact, recent statistics show only three states had higher rates of foreclosure: they were Michigan, Louisiana, and Mississippi.


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