Monday, April 16, 2012

North Carolina Public Notice News from Denver Colorado

HAT TIP: Legal Notice Blog

DENVER-Almost $1 million per year spent on "Unseen" Foreclosure Notices In Print

As we've noted, one rarely sees a print-based newspaper writing negatively about the practice of publishing legal notices. Legal Notices (Foreclosures, LLC formations, Bid Openings, Zoning Hearings, Meetings) are the last revenue stream where newspapers still can charge monopolistic pricing and get away with it. Unfortunately the high prices for legal notices are being paid for by the taxpayers, or newly formed businesses, or those foreclosed on, constituencies that can least afford it. So newspapers mostly editorialize about the obligation we have as an open government to continue to subsidize their publications by overpaying for legal notices in print. If newspapers uncover any government overspending , they are quite vigilant about pointing it out. Publicizing the overspending on public notices though has been off limits.
Thus, it is refreshing to read David Migoya's piece in the Denver Post which exposes how confusing the system of choosing a newspaper and publishing a foreclosure notice is in Denver. The Post has taken in over $200K in the past 2 and a half years from foreclosure notices yet they still point out the complications of the process. It's nice to see some objective journalism on this subject.
Migoya did miss the opportunity to suggest a solution: on-line publication of foreclosure notices.
To read how other states are addressing this issue Click HERE
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