Thursday, October 30, 2014
Inquirer Daily News

Mortgage foreclosures down 24% in Montco

The county had projected a 5% increase in filings, but in the first half of 2013 filings were down nearly a quarter from 2012.

Mortgage foreclosures down 24% in Montco

County Finance Director Uri Monson presented the quarterly budget report  at this morning's Board of Commissioners meeting -- but his numbers were soon overshadowed by lengthy public comments over the issuance of same-sex marriage licenses. 

But there's one number I can't let slide by unnoticed:

Mortgage foreclosure filings were down 24 percent in the first half of 2013.  That signals good progress in the economy, but puts a small dent in the county's projected fee collection.  The Prothonotary collects $200 with each foreclosure filing, and the county had projected filings to go up 5% in 2013 -- not down.

That leaves the Prothonotary with a projected $150,000 shortfall in revenue.  But maybe they can work out a trade with the other side of the aisle -- the Recorder of Deeds, where filings are up and revenues are expected to end 2013 $500,000 over budget.

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Jessica Parks and Carolyn Davis
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