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Lane County foreclosures spike

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High Five
Friday, February 12, 2010

After Lane County foreclosures trended downward in the last six months of 2009, the numbers suddenly increased again, up 23.4% in January from the previous month.

Analysts aren't sure why the foreclosure numbers reversed, and won't know until later if it's just a one-time increase or a trend shift.

A total of 317 county households received some sort of foreclosure notice last month, up from 257 in December. A year ago, in January 2009, there were 278 foreclosures notices filed, according to RealtyTrac, a California firm that tracks foreclosures nationwide...
One factor may be an increase in strategic foreclosures, in which homeowners are so far underwater that they choose to stop paying their mortgage and let their homes go into foreclosure, he said.

Read the full story at The Register-Guard.

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