• Posted On: June 16, 2015

A Surge in Real Estate Repossessions Will Affect Foreclosure Management

In January of this year the number of foreclosures (48,838) and bank repossessions (37,292) hit a 15-month high. According to RealtyTrac, a data firm for the real estate industry, a high number of foreclosures auctions (51,782) were also slated in almost half of the nation’s 50 states at the start of the year. Industry watchdogs predict the number of foreclosures to continue rising into late spring or early summer. Foreclosure management will continue to be a pressing demand on local governments.

More Work, Less Money

The problem, of course, is that many of the same economic stressors which produce foreclosures also put restraints on your ability to keep up with the processing of foreclosed properties. As a city manager you don’t have money to hire more officers or pay those you do employ for needed overtime. It’s already an uphill climb keeping up with the site visits, notices and federally mandated reporting. With a predicted upswing in troubled properties, foreclosure management only becomes a bigger challenge.

A Mobile Tool For a Mobile Job

As caseloads increase, you need to give your officers the best management tools to help them remain agile and improve their effectiveness. Comcate has a decade of experience empowering city governments to carry out necessary duties in a more expeditious and thorough manner. With Comcate’s Foreclosure Management Solution, your officers can work smarter and faster.

The software helps you keep up with rising foreclosure demands in several ways:

1. Optional GIS integration can help code officers get to the correct address by the most direct route and schedule out the entire workday with optimum efficiency

2. Officers can make notes on-the-go

3. Officers can produce notices right there on-site

4. The mobile tool provides access to the entire case history with the touch of a finger

5. Government-compliant reporting is a breeze because the software stays updated, photo attachments and documentation don’t have to wait for the officer to get back to their desk but get done in the field

6. Reports may be sorted according to either status or owner

Positive Citizen Impact

As the person responsible for public safety and taking care of abandoned properties, it’s vitally important that you are able to address issues in a timely fashion. Citizens may not be able to appreciate the many hidden demands your department must balance, but they will appreciate the action they can see. Enabling officers to spend more time doing their job away from their desk is a win-win for all concerned.

Florida led the nation in foreclosures in January. But the numbers were also high in Nevada, Maryland, Illinois and New Jersey. This isn’t an east coast, west coast or mid-west problem. Wherever you are, it’s likely that your area will also be feeling the pressure for improved foreclosure management. We invite you to check out Comcate. We’re helping cities and towns handle challenges like this all across the map.

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