Overall, Foreclosure Filings Up From Same Time Last Year
Eugene, Oregon (July 14, 2015)—June’s record heat kept foreclosure filings simmering in the 23 Oregon counties monitored by Gorilla Capital.
Last month, foreclosure filings held steady at 694 compared to 693 in May and 764 in April. For the year, there have been more foreclosures filed in Gorilla’s Oregon Counties, 4,804, than compared to the 3,198 filed in the first six months of 2014.
“Usually, June begins the dog days of summer for foreclosure filings because vacations short-circuit the filing and mediation process,” said John Helmick, president and CEO of Gorilla Capital. “I would still expect foreclosure filings to begin to decline in July and August and then pick up again in the fall, staying close to 700 per month until the holidays. ”
In June, non-judicial foreclosure filings decreased to 234 from 256 in May and 266 in April. Meanwhile, judicial foreclosure filings increased in June to 460 from 437 in May, and decreased compared to April when 498 were filed.
Helmick says of the houses Gorilla purchased in Oregon last month, 64% were Zombie or vacant homes. “The sooner a Zombie can get to auction, the sooner we can capture it, and then turn it back into a family home, while improving the neighborhood and property values.”