Nov 13 2015
Overall Foreclosure Filings Still Well Ahead of 2014
Eugene, Ore. (Nov. 13, 2015 ) —– Foreclosure filings in the 23 Oregon counties tracked by Gorilla Capital dropped from 719 in September to 658 in October, representing an 5% decrease.
Filings for October were down 22% compared to the same month last year, but overall foreclosure filings are running 31% ahead of where they were during the first 10 months of 2014.
“Since March, monthly foreclosure filings have tallied between 642 and 728, with January February and March recording the most filings so far this year.” said John Helmick, President and CEO of Gorilla Capital. “For now, we are holding pretty steady in the number of filings record each month, which is sign that the foreclosure crisis is slowly healing, but with November a short month for business days because of the holidays, and December coming up fast, we’ll see fewer filings recorded for the rest of the year.”
For October, judicial filings hit 490 from 458 in September, while non-judicial filings dropped by nearly 100, from 261 in September to 168 in October.
“The reason for more judicial filings is due to a well-meaning Oregon statute that pushes borrowers and lenders into court, instead of to the quicker non-judicial process ,” Helmick said.