Foreclosures drop

Statewide foreclosures dropped 32% since October.

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Statewide foreclosures dropped 32% since October.

Foreclosure filings had dropped sharply in November 2010 when many lenders put foreclosures on hold while they scrambled to revamp their internal procedures because of trouble in the foreclosure processing system.

“The data clearly demonstrates that Oregon foreclosure activity peaked in 2010, and we are now in a steady decline,” said John Helmick, CEO of Eugene-based Gorilla Capital, which specializes in the purchase and resale of foreclosed properties.

“The real estate market is healing itself, and absent government intervention, we expect to see the real estate market continue to heal itself throughout 2012,” Helmick said. “We expect 2012 foreclosure activity will be less than half of 2010.”

Read more at The Register-Guard.

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