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40 <br /> Slide #7 <br /> Foreclosure Chart and History <br /> BLUE Orange County Foreclosures <br /> number of Title 30 <br /> Searches <br /> 25 <br /> 20 <br /> =Sold <br /> 15 <br /> 10 <br /> ` <br /> 2015 2016 2017 2015 2019 2020 2021 2022 2023 2024 2025 <br /> GREEN <br /> Number of �TITLE SEARCHES COMPLETED a PARCELS SOLD ATFORECLOSURE ■TAXES PAID PRIOR TOFORECLOSURE <br /> Parcels Paid in <br /> Full Priorto <br /> Foreclosure *Approximately 45 parcels were sold during the years 2002.2014. <br /> *Orange County has acquired 7 parcels via tax foreclosure since 2002. <br /> **Foreclosure processes generally take six months therefore properties are often auctioned in the following calendaryear. <br /> _ _ _ _ __ STY <br /> NORTH CAROLINA <br /> Nancy Freeman said they have a ten-year window in which to collect taxes, and <br /> foreclosure is a last resort. <br /> Commissioner Portie-Ascott asked if parcel numbers are provided in foreclosure reports. <br /> Nancy Freeman said she's asked other counties if they provide parcel numbers and had <br /> not heard back yet. She said that since 2002, the county has acquired seven parcels through tax <br /> foreclosure, which are still owned by the county. <br /> Commissioner Portie-Ascott asked if there is anything that prevents the county from <br /> including parcel numbers. <br /> Valerie Curry said they could give parcel numbers and townships, but since the parcels <br /> are usually vacant there wouldn't be a zip code. <br /> Vice-Chair Hamilton asked about the connection between the number of searches and <br /> foreclosures. <br /> Valerie Curry said that 85-90% of taxes are paid before foreclosure. She said the ones <br /> that aren't are usually difficult properties that aren't as desirable, and most of them are family <br /> properties where the owner died without a will. She said most debts are paid after final notice. <br /> Vice-Chair Hamilton asked if the number of title searches is the first step in foreclosure. <br /> Valerie Curry said that is correct, and the title search is representative of the notice of <br /> foreclosure. <br /> Chair Bedford said that based on the chart, it appears there were many more parcels sold <br /> at foreclosure than seven. <br /> Valerie Curry said Orange County purchased seven, but there were many more parcels <br /> sold. <br /> Chair Bedford asked why the county bought the seven. <br /> Valerie Curry said no one else bid on the parcels. <br /> Commissioner Portie-Ascott asked who purchased the other properties. <br /> Valerie Curry said that information is with the Clerk of Court. She said it would be hard to <br /> know if the purchasers are investors. She said that it's usually an LLC or individual bidding. <br /> Commissioner Portie-Ascott asked if it's more LLCs or individuals. <br />