The foreclosure crisis isn’t over, but the pace of its growth may be slowing down. Realty-Trac Inc. said Thursday that the number of U.S. households facing foreclosure in February grew 6 percent from the year-ago level, the smallest annual increase in four years. More than 308,000 households, or 1 in every 418 homes, received a foreclosure-related notice, the Irvine, Calif.-based foreclosure listings company reported. That was down more than 2 percent from January. Still, fears remain about the hundreds of thousands of homeowners who are still being evaluated for help under loan modification programs. Snohomish County figures for last month were not available, but Realty-Trac reported that 1 in every 505 housing units in the county received a foreclosure notice in January, a relatively high amount.
Port reviews plan for historic building
Following community complaints, Port of Everett commissioners have agreed to consider hiring a different facilitator for their reconsideration of what to do with the historic Collins Building on the waterfront. Several people complained about the port’s earlier choice, Reid Shockey, saying that while they weren’t criticizing him personally they wanted someone who had not been involved with the issue before. Shockey, an Everett consultant, has been involved in a number of community issues and some members of Historic Everett said they would rather see someone from outside the community. The three commissioners said they’d examine their choices but would keep Shockey working on the issue in the meantime. They had planned to use Shockey for a June 5 community meeting on the issue.
State biodiesel plant resumes production
Imperium Renewables has restarted limited biodiesel production at its Grays Harbor plant after repairing a tank that ruptured in December. Company officials said Wednesday that the price of canola also has come down. The plant uses vegetable oil from canola seeds to make biodiesel. In addition, demand is rising because British Columbia and parts of Oregon are requiring some biodiesel in diesel fuel. Imperium shut down in December when a glycerin tank ruptured.
Bank warrants raise $15 million
The Treasury Department has received $15.39 million from the sale of warrants it received from Seattle-based Washington Federal Inc. as part of the support it provided from the government’s $700 billion bailout program. The Treasury said Wednesday that it sold 1.7 million warrants in an auction that took place the previous day. Warrants are financial instruments that allow the holder to buy stock in the future at a fixed price. The Treasury said that the Washington Federal warrants brought an auction price of $9.15 per warrant, well above the minimum bid of $5 per warrant set by Treasury.
From Herald news services
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