How can we add info on foreclosure to Neighborhood Stat?
From Peter Hoffman at Legal Aid:
Two documents from Jackson County Recorder of Deeds indicate a foreclosure: "Appointment of Successor Trustee" and a "Trustee's Deed" and are only found with the recorder of deeds at http://records.jacksongov.org/search.asp?cabinet=opr. "it would be incredibly awesome to be able to see a map of where a foreclosure started (appointment) but not completed (trustee's deed)."
Appointment of Successor Trustee = typically recorded when a bank is preparing to foreclose, though not always. Sometimes the owner will file bankruptcy or the bank will determine that the collateral is not worth the value of the loan and not pursue the foreclosure any further.
Trustee's Deed = recorded if bank does pursue the foreclosure and the bank (or another bidder at auction) assumes title to the property to foreclose the debt. Occasionally a foreclosure will "settle" whereby the owner voluntarily gives the property back to the bank. This is called a "deed in lieu of foreclosure." Unfortunately, the county doesn't to my knowledge distinguish this deed from any other type of deed.
To find these docs on the recorder of deeds website, you can search by "document type" and also by date. So, for instance if you want to look at all foreclosures that were completed in the month of August. You would select document type as "trustee's deed" and then enter your search parameters as Aug. 1 to Aug 31.
How can we add info on foreclosure to Neighborhood Stat?
From Peter Hoffman at Legal Aid: Two documents from Jackson County Recorder of Deeds indicate a foreclosure: "Appointment of Successor Trustee" and a "Trustee's Deed" and are only found with the recorder of deeds at http://records.jacksongov.org/search.asp?cabinet=opr. "it would be incredibly awesome to be able to see a map of where a foreclosure started (appointment) but not completed (trustee's deed)."
Appointment of Successor Trustee = typically recorded when a bank is preparing to foreclose, though not always. Sometimes the owner will file bankruptcy or the bank will determine that the collateral is not worth the value of the loan and not pursue the foreclosure any further.
Trustee's Deed = recorded if bank does pursue the foreclosure and the bank (or another bidder at auction) assumes title to the property to foreclose the debt. Occasionally a foreclosure will "settle" whereby the owner voluntarily gives the property back to the bank. This is called a "deed in lieu of foreclosure." Unfortunately, the county doesn't to my knowledge distinguish this deed from any other type of deed.
To find these docs on the recorder of deeds website, you can search by "document type" and also by date. So, for instance if you want to look at all foreclosures that were completed in the month of August. You would select document type as "trustee's deed" and then enter your search parameters as Aug. 1 to Aug 31.