OREGON COURT FORECLOSURES DECREASE WHILE NODs SOAR IN MAY

Tuesday, June 18, 2013

EUGENE, OR – Gorilla Capital reports that in May, court foreclosures decreased by 6% and notice of default for notice and sale foreclosures were up 41% over April’s filings in the 20 Oregon counties tracked by the company.

May filings for court foreclosures (a.k.a. judicial foreclosures) were 1,194, as compared to April’s tally of 1, 266; a decrease of 72. There were 1,014 court foreclosures reported in March, 1, 282 filed in February, and 766 in January. A total of 5,522 court foreclosures have been filed in 2013 to date.

There were 140 notice of default (NOD) for notice and sale foreclosures in May compared to 99 in April. In March 103 NODs were filed, while in February, 95 NOD filings were reported and 104 in January. To date, in 2013, 541 NODs have been filed.

“More foreclosures are being filed so lenders can get foreclosed homes on the market more quickly to take advantage of a housing market that is starting to improve,” said John Helmick, CEO of Gorilla Capital.

“Gorilla expects monthly foreclosure filings to stay the same or even increase a bit over the next few months.”

May Foreclosures – Oregon Counties

April Foreclosures – Oregon Counties