Foreclosure numbers better in local community

LANSING, Mich. (WSYM) - There's been an improvement in tax foreclosures in a local community over the last year.

Income County Treasurer Eric Schertzing released findings showing a substantial improvement in tax foreclosure numbers in 2018 over 2017.

The data showed that the number dropped from 201 to under 120 foreclosures.

Schertzing says that efforts to prevent foreclosures have been a key to lowering the numbers.

“Foreclosure prevention efforts implemented in the past year have been a key component in lower tax foreclosure numbers,” said Ingham County Treasurer Eric Schertzing. “Four factors helped people in Ingham County keep their property. First was an additional public hearing that engaged people in problem solving early. Second was our financial literacy program through Capital Area Community Services with stepped up coordination with Legal Services and a loan program from CASE Credit Union. Third, is ongoing funding for foreclosure rescue under the Hardest Hit program using Federal funding from the Obama Administration. Last, but not least, is the continued improvement in our local economy that strengthens property owners and increases property values.”

According to the report, the potential for future foreclosures remains "a third higher than before the Great Recession. Forfeiture occurs a year before foreclosure."

Additional data and charts are available in the Ingham County Treasurer’s Office.