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40 <br /> 1 Slide #7 <br /> Foreclosure Chart and History <br /> SLUE Orange county Foreclosures. <br /> number of Title 3C <br /> Searches <br /> 2 <br /> 20 <br /> ORAiNGE 15 <br /> number of <br /> Parcels Sold al 16 <br /> t <br /> ore ."re <br /> 2015 2016 2017 2616 2014 2020 2021 2022 2023 2024 2025 <br /> GREEN <br /> NUrn <br /> ber of I TITLE SEARCHES COMPLETED I WCELS SOLD AT FORECLOSURE ■TAXES PAI DPRIOR TOFORECLOSl1RE <br /> Parcels Paid in <br /> Full Priorto <br /> Foreclosure 'Approximately 45 parcels were sold during the years 2402.2014. <br /> •Orange County has acquired 7 parcelsvia Rax foreclosure since 2002, <br /> Foreclosure processes generally take six months therefore properties are often auctioned in the following calendar year. <br /> 1TY <br /> IrTORTH t°.'.fiOLINA <br /> 2 <br /> 3 Nancy Freeman said they have a ten-year window in which to collect taxes, and <br /> 4 foreclosure is a last resort. <br /> 5 Commissioner Portie-Ascott asked if parcel numbers are provided in foreclosure reports. <br /> 6 Nancy Freeman said she's asked other counties if they provide parcel numbers and had <br /> 7 not heard back yet. She said that since 2002, the county has acquired seven parcels through tax <br /> 8 foreclosure, which are still owned by the county. <br /> 9 Commissioner Portie-Ascott asked if there is anything that prevents the county from <br /> 10 including parcel numbers. <br /> 11 Valerie Curry said they could give parcel numbers and townships, but since the parcels <br /> 12 are usually vacant there wouldn't be a zip code. <br /> 13 Vice-Chair Hamilton asked about the connection between the number of searches and <br /> 14 foreclosures. <br /> 15 Valerie Curry said that 85-90% of taxes are paid before foreclosure. She said the ones <br /> 16 that aren't are usually difficult properties that aren't as desirable, and most of them are family <br /> 17 properties where the owner died without a will. She said most debts are paid after final notice. <br /> 18 Vice-Chair Hamilton asked if the number of title searches is the first step in foreclosure. <br /> 19 Valerie Curry said that is correct, and the title search is representative of the notice of <br /> 20 foreclosure. <br /> 21 Chair Bedford said that based on the chart, it appears there were many more parcels sold <br /> 22 at foreclosure than seven. <br /> 23 Valerie Curry said Orange County purchased seven, but there were many more parcels <br /> 24 sold. <br /> 25 Chair Bedford asked why the county bought the seven. <br /> 26 Valerie Curry said no one else bid on the parcels. <br /> 27 Commissioner Portie-Ascott asked who purchased the other properties. <br /> 28 Valerie Curry said that information is with the Clerk of Court. She said it would be hard to <br /> 29 know if the purchasers are investors. She said that it's usually an LLC or individual bidding. <br /> 30 Commissioner Portie-Ascott asked if it's more LLCs or individuals. <br />