Oregon foreclosure filings fell in April, reflecting a shift in foreclosure activity toward the East Coast.
Oregon foreclosure filings fell in April, reflecting a shift in foreclosure activity toward the East Coast.
In Oregon, lenders set foreclosure auctions for 1,203 properties in April and repossessed 504. Filings fell 48 percent compared with a year earlier, and 2.5 percent compared with March.
In the Portland area, foreclosure filings have fallen 43 percent since last April and 9 percent since March. The biggest decline was in Washington’s Clark County, where filings are down 43 percent from a year ago.
Lenders have focused their attention on states — many on the East Coast — where foreclosure proceedings occur in court, a slow process that’s caused a backlog. The bottleneck in those states was compounded when lenders placed a moratorium on foreclosures after sloppy documentation processes — the scandal that led to a $25 billion national settlement with major lenders — came to light.
Read more at OregonLive.com.
{biztweet}foreclosure oregon{/biztweet}
