John Rebchook is a former Rocky Mountain News reporter with more than 30 years of experience in writing and communications... Outside bidders purchased 115 foreclosed homes from the public trustee’s office in the second quarter, a 475 percent increase from the 20 sales in the second quarter of 2008, a whopping 475 percent increase.
The report by Adams County Public Trustee Carol Snyder also found that the number of bankruptcies during the second quarter of Adams County also soared. There were 140 bankruptcies in Adams County during the second quarter, a 366.67 percent increase from the second quarter 2008. Many more people who are losing their homes at foreclosures, are declaring bankruptcy first.
Yet, the number of homes sold at public trustee auctions in Adams County barely budged. There were 651 homes sold by the public trustee’s office at auctions in the second quarter, only a 0.93 percent increase from the 645 a year earlier.
