Oregon foreclosures trending down

Oregon foreclosures trending down

Markedly fewer home foreclosures are being filed in 2011, according to the latest figures released by Eugene-based Gorilla Capital, the state’s largest purchaser of homes sold at foreclosure auction.

In 15 of the Oregon counties where Gorilla operates, there were 818 notices of default in August 2011 – a 47 percent decrease from August 2010 when 1,541 notices of default were filed. A notice of default is the official beginning of the foreclosure process.

“The Oregon foreclosure crisis is winding down,” said John Helmick, Gorilla Capital CEO. “Most Oregon counties are showing a 33 to 50 percent improvement from the previous year.”

Read more in today's Statesman Journal.