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Foreclosures rates hitting Brunswick County hard

READ MORE: Foreclosures rates hitting Brunswick County hard
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Foreclosures rates increased throughout the country in 2008. In Brunswick County the number of filings shot-up 85 percent from 2007. Clerk of the Superior Court, Cheryl C. Wilson said, “We have seen a dramatic increase since 2006 where we had filings of 320. In 2007 we had 488. In 2008 we have had 902.” The Foreclosure Announcement Board at the Brunswick County Court House is packed with auction dates and foreclosure listings. That won't change anytime soon. The Clerks Office is already booked through March with foreclosure hearings. Wilson said employees are struggling to keep up. “The increase of course, and I'm short staffed, has put a tremendous strain on us because the amount of paper work that is involved in a foreclosure proceeding.” On Thursday, paralegal Evan Watkins only had a few foreclosed properties on auction, but still he has auctioned off his share of properties. “Four or five a week, but of course I'm only one paralegal, and we handle counties all over the state.” Although the number of homes going into foreclosure in Brunswick County have increased, the types of homes are more luxury than necessity. “I have seen an incredible number of investment properties. Properties in excess of a million dollars. 4 million, 5 million, 6 million dollars,” said real estate investor, Tony McMahon. Wilson said those in danger of foreclosure should make sure they stay in contact with the bank or lending company. Following their advice could keep a family out of foreclosure and in their home.

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