Foreclosure filings jumped 22.9% in Oregon in October, and 23.6% in the Portland area.
Foreclosure filings jumped 22.9% in Oregon in October, and 23.6% in the Portland area.
The numbers are still down from the same month last year — a 3.6 percent decline for Oregon and an 8.1 percent decline for the Portland area. But California real estate data firm RealtyTrac, which released the numbers on Monday, says the monthly increases are a sign banks are ramping up foreclosures stalled by documentation problems last year.
“The October foreclosure numbers continue to show strong signs that foreclosure activity is coming out of the rain delay we’ve been in for the past year as lenders corrected foreclosure paperwork and processing problems,” RealtyTrac chief executive James Saccacio said. “However, recent state court rulings and new state laws keep changing the rules of the foreclosure game on the fly, creating more uncertainty in the housing market and threatening to prolong the road to a robust real estate recovery.”
Read more at OregonLive.com.
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