Oregon foreclosure filings decline

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Thursday, May 17, 2012

Oregon foreclosure filings fell in April, reflecting a shift in foreclosure activity toward the East Coast.

In Oregon, lenders set foreclosure auctions for 1,203 properties in April and repossessed 504. Filings fell 48 percent compared with a year earlier, and 2.5 percent compared with March.

In the Portland area, foreclosure filings have fallen 43 percent since last April and 9 percent since March. The biggest decline was in Washington's Clark County, where filings are down 43 percent from a year ago.

Lenders have focused their attention on states -- many on the East Coast -- where foreclosure proceedings occur in court, a slow process that's caused a backlog. The bottleneck in those states was compounded when lenders placed a moratorium on foreclosures after sloppy documentation processes -- the scandal that led to a $25 billion national settlement with major lenders -- came to light.

Read more at OregonLive.com.

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