Are Deschutes consumers getting loan help?


Lenders are stopping an increasing number of the foreclosure proceedings they initiated in Deschutes County.

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Even though foreclosures are improving it is unclear whether homeowners are getting more help through loan modifications.

At the same time, the number of notices of default in Deschutes County remains high. A notice of default begins foreclosure proceedings, but not all properties that receive notices of default are repossessed by banks. The county recorded 2,687 notices of default in the first nine months of 2009, compared with 1,305 notices of default in the same period in 2008, an increase of 106 percent.

Read the full story in the Bend Bulletin.