Oregon foreclosures below average

Oregon foreclosures below average

Oregon's mortgage foreclosure rate for the year's third quarter ranks the state at 31st, well below the national average, according to the Mortgage Bankers Association.

The report released Thursday, Nov. 19, shows that 5.7 percent of all Oregon homeowners with mortgages were either in foreclosure or were more than three months behind in payments from July through September. Nationally, the rate was 8.9 percent.

Among Oregonians with weak credit who took out “subprime” loans, 23.3 percent were either in foreclosure or at least three months behind on payments during the third quarter. The national rate was 28.7 percent.

Read more at the Portland Tribune.

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