Court foreclosures rise by 19% in some counties

July 11, 2012

Court foreclosures increased by 19 percent in the 20 Oregon counties tracked by Gorilla Capital, a prominent buyer of distressed real estate.

In Marion County, court foreclosures reached 129 in June. That compares with 81 in May. Meanwhile, Polk County had 45 court foreclosures in June, up from 24 in May.

“As we start the last six months of 2013, foreclosures filing should stay steady, maybe even increase toward the end of the year, as lenders and the courts continue working through a backlog of filings,” said John Helmick, chief executive officer of Gorilla Capital.

Although court foreclosures rose in June, notice of default and notice of sale foreclosures dropped by 26 percent in June in the counties tracked by Gorilla Capital.

— Michael Rose

Click here to read the story at the Statesman Journal online.