Portland-area foreclosure sales picked up in the third quarter of 2011, due to an increase in short sales.
Portland-area foreclosure sales picked up in the third quarter of 2011, due to an increase in short sales.
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According to the foreclosure listings site RealtyTrac, 1,702 “distressed” properties with foreclosure filings in Portland-Vancouver-Beaverton sold from July to September, a 3.6 percent increase from the same period a year earlier. They made up nearly one in five home sales during the quarter.Â
Lenders have more readily agreed to short sales — in which the bank accepts whatever price a home can fetch on the open market instead of the amount owed on the home — over the past two years, said Mathew Raczko, a financial specialist with ClearPoint Financial Solutions.
Read more at OregonLive.com.
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