Foreclosure Activity Skyrockets In Oregon

Dated: May 15 2014

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Oregon mortgage lenders nearly doubled the pace of repossessions in April, according to new foreclosure data released Thursday by RealtyTrac.

The Irvine, California-based real estate data service reports that although the overall foreclosure rate decreased one percent in April across the nation, repossessions increased in 26 states in April compared to March.Oregon had the fourth highest increase, 91 percent, after Iowa (237 percent), New York (142 percent) and Delaware (94 percent).

Oregon led the nation in other aspects as well, a sign that the foreclosure crisis may be tailing off elsewhere but is not finished here.
Oregon experienced a 229 percent increase in the rate of foreclosed homes scheduled for auction.

Seen in one light, the move to foreclose could bring relief to Portland’s tight housing market. This week, the Regional Multiple Listing Service reported the city’s inventory of for sale homes dropped to 2.8 months, the lowest in recent years.

RealtyTrac said the repossessed homes will find their way onto the market. Read More Here...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

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