Business

Triangle foreclosure filings to set record, housing group forecasts

Posted November 8, 2010 12:03 p.m. EST

— Foreclosure filings are projected to set a record in North Carolina and across the Triangle this year, according to the N.C. Justice Center.

The advocacy group for low- and moderate-income N.C. residents estimates that nearly 75,000 filings will be made by year’s end. The record of 63,286 was set last year.

Filings are projected to top the previous record as of Nov. 23.

In the Triangle, Wake County is expected to finish second to Mecklenburg County with 5,800 filings. In 2009, 5,177 filings were made and in 2008 as the current recession began there were 4,744 filings.

In Durham, filings are projected to hit 1,900. That would be an increase of 107 from 2009.

In Orange County, filings are expected to rise to 403 from 333 a year ago.

Johnston County filings are estimated to finish down slightly at 1,296 from 1,306 in 2009.

The Justice Center said the data pointed out a need to “protect homeowners” and expand the availability of more affordable rental housing.

Top 10 counties based on projected foreclosure filings:

1. Mecklenburg (11,713)
2. Wake (5,800)
3. Guilford (4,360)
4. Forsyth (2,532)
5. Union (2,132)
6. New Hanover (1,979)
7. Durham (1,900)
8. Gaston (1,828)
9. Brunswick (1,801)
10. Cumberland (1,698)

Top 10 counties per capita projected foreclosure filings:

1. Dare (2.76 percent of individuals)
2. Brunswick (1.63)
3. Currituck (1.45)
4. Mecklenburg (1.29)
5. Clay (1.16)
6. Cherokee (1.13)
7. Union (1.06)
8. Pender (1.05)
9. New Hanover (1.01)
10. Jackson (.97)