Lag in processing cases blamed for county’s rising numbers



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A home at 1150 Fiesta Drive in Franklin was listed for sheriff sale, which is a step in the foreclosure process.


The number of local residents losing their homes because they aren’t paying their mortgages increased again last year, but local real estate agents don’t think the jump is a sign of a worsening economy.

Local real estate agents and bankers said the increase did not mean more homeowners were unable to pay their mortgage in 2013 but more likely was because of a lag in processing foreclosure cases in the courts or multiple listings as banks try to negotiate sales with potential buyers before an auction.

The rising number isn’t worrisome because, overall, home prices increased, more houses were sold and demand was high throughout the year, which all show an improving housing market, local bankers and real estate agents said.

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