Mortgage foreclosure numbers continue to tumble in Washington County, Minnesota as they’ve dropped to an all-time decade low, according to information released from the County Board on March 10.
The number of foreclosures recorded in 2014 was 395, down from a county-wide high of 1,258 in 2008. After the height of the recession and housing foreclosure crisis that occurred from 2008 – 2010, the foreclosure rate in Washington County has since been dropping, getting to 589 in 2013.
The number of foreclosures in 2014 marked the 4th consecutive year that Washington County saw a drop in its mortgage foreclosure numbers and in the past decade, only 2005 had a lower foreclosure rate with a total of 246.
The county tracks foreclosures on a monthly basis, Boyce said. That information is compiled and placed on a map that county and city officials can use to see where, and how many, foreclosures are being recorded.
Available on the county’s website, the map indicates that the most home defaults in the last year occurred in Cottage Grove, where 81 mortgage foreclosures were recorded. Woodbury, the county’s largest city, came in with the second-highest number records at 74. Other communities in Washington County recorded the following number of foreclosures: St. Paul Park, 17; Newport, 11; Afton, 6; Denmark Township, 2; and Grey Cloud Island Township, 1.
Cyndy Boyce from the county’s Property Records and Taxpayers Service is optimistic that foreclosures can and will continue to decrease to normal levels in the coming years as the economy in Washington County continues to see improvements.