Vero News > 32963 Features > Real Estate > Foreclosure activity in county spikes

Foreclosure activity in county spikes

Written by: February 11 2010

INDIAN RIVER COUNTY — According to figures released by an industry tracking company, 1 out of every 188 homes in Indian River County received a foreclosure notice last month.In all, 416 homes received either a default notice, foreclosure auction notice or were repossessed by a bank, representing a nearly 16 percent increase from December, according to Realtytrac.com Those figures are consistent with a report on VeroNews.com last week of a spike in December of homeowners over 90 days behind in their mortgage payments.Realtytrac breaks the numbers within the county as 325 homes in Vero Beach in some sort of foreclosure, 79 in Sebastian and 12 in Fellsmere.Indian River went against a trend in nearby counties as both St. Lucie and Martin counties saw double-digit drops in foreclosure activity. Area Realtors say one of the factors in accounting for foreclosures is the backlog in cases working their way through the court system and the spike could be attributed to a number of local cases finally being settled.

+100%-

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin id ullamcorper urna, non placerat diam. Praesent nulla ma. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin id ullamcorper urna, non placerat diam.

Related Articles

County announces beach closures ahead of beach restoration project

At least two beaches will be closed starting this weekend ahead of the beach restoration project, which will start back up next week, county officials said. The project aims to restore sand - which had been washed away by storms and hurricanes over the years - at the beaches. Beach park access at Seagrape Trail Beach Access and Treasure Shores Park Beach will both close starting Friday, county officials said. Seagrape Trail Beach is located south of Wabasso Beach, off Highway A1A. Treasure Shores Park Beach is located north of Wabasso Beach. Construction at Treasure Shores Park Beach - which will start Nov. 1 - was expected to last for 45 days. Crews will finish dumping 30,000 cubic yards of ...

Community Development Department closes in-person services

The Community Development Department closed in-person services Monday as county officials implement more health precautions to prevent the spread of COVID-19. Officials plan to add more physical barriers to the front counters inside the building, which already has temperature scanners installed. County employees and those who visit county facilities are already required to wear masks inside. County Administrator Jason Brown was not immediately available to confirm reports that six employees in the Community Development Department tested positive for the virus. Further details on the employees were not available. The Community Development Department includes current development, code enforcement, long range planning and fire safety divisions. The physical offices will be closed to the public possibly for a week, but residents can ...

County launches small business recovery grant program

The hospitality industry has been one of the hardest hit during the coronavirus pandemic. For local small businesses, it has been a challenge to keep their doors open and the lights turned on. Recognizing this need, the Indian River County Commission earmarked $250,000 of the $6.9 million in CARES Act funding the county received from the federal government to create the Small Business Recovery Grant program for local hospitality industry businesses with fewer than 25 employees. The City of Vero Beach contributed $120,000 of the CARES Act funds it received to the county to provide additional economic relief to small businesses, bringing the total to $370,000. Last week the Chamber announced the opening of grant submissions for qualified small hospitality ...

Leave a Comment