Foreclosures take toll

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High Five
Monday, March 29, 2010

Jackson County residents and homebuilders still have no relief from their ongoing foreclosure struggles.

The county is tied with Columbia County for the state's third-highest rate of foreclosures per housing unit, with one in every 367 homes in facing foreclosure.

"We are in the trenches right now," [said Kerrie Davis, community education and outreach coordinator for the not-for-profit Rogue Federal Credit Union]. "So many people have been working with lenders for the past year, and they have just hit the wall."

Now, with 2,500 adjustable rate mortgages coming due this year, the problem will likely get worse before it gets better, she said.

Read the full story at the Mail Tribune.

{biztweet}Jackson County Oregon foreclosure{/biztweet}

 
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