Eighteen individuals or couples faced property foreclosure in 2008, according to a review of Trustees Sale notices published in The Journal of the San Juan Islands and The Islands’ Sounder.
A Notice of Trustees Sale notifies the public that a property loan is in default and the property could be auctioned. It is not known how many of those foreclosures went all the way to auction. Some foreclosure proceedings, like those initiated on the Friday Harbor Ace Hardware property, were discontinued after the owner filed for bankruptcy protection. Others came up with money to maintain ownership of their property.
There were 17 foreclosures initiated in 2007, and 14 in 2006.