Huge Increase in Deschutes County Foreclosures

To our fine City Councilor's--please think long and hard about these numbers before committing our general fund to repayment of millions more in municipal bonds for Juniper Ridge:

Notice of Default and Intention to Sell Recordings

Month Number
12/05 17
01/06 21
02/06 18
03/06 20
04/06 17
05/06 20
06/06 14
07/06 13
08/06 19
09/06 17
10/06 18
11/06 19
12/06 25
01/07 26
02/07 24
03/07 38
04/07 33
05/07 30
06/07 41
07/07 56
08/07 52
09/07 56
10/07 76
11/07 80
12/07 39 through 12/14

Source: http://recordings.deschutes.org/login.asp

Username: anybody
Password: anything

There's a serious meltdown happening here. There are almost as many foreclosures as there are sales right now. And it's only going to get worse next winter after all next summer's subprime mortgage resets.

Put this in the context of our present budget shortfall, which will get even worse as the RE market continues to tank, and you are putting the City in serious risk of bankruptcy if you continue to pile on debt at the rate you have been.

Please be responsible and take your fiduciary duties seriously.