Dec 15 2015
Filings Still Ahead of Last Year’s Pace
Eugene, Ore. —- Whether it was too much turkey or four fewer work-days due to Veterans’ Day and the Thanksgiving Weekend, the number of foreclosures filed in November took its annual “nap” logging 545 compared to 666 in October, marking the third consecutive month that filings have decreased. However, there were still 25 more foreclosures filed during November 2015 than during the same month last year.
“Fewer work days always mean fewer filings,” said John Helmick, CEO of Gorilla Capital. “Traditionally, foreclosure filings will bounce back in December, particularly if the holidays are late in the week, like this year, and lenders as well as borrowers are concerned about clearing their financial books going into the new year.”
November’s judicial (court) foreclosure filings tallied 315, sliding from 498 in October. Non-judicial filings increased from 168 in October to 230 in November.
Overall, foreclosure filings in the 24 counties monitored by Gorilla Capital are 29% ahead of where they were in the first 11 months of 2014.