OREGON FORECLOSURES CLIMB IN MARCH

Monday, April 15, 2013

EUGENE, OR Gorilla Capital reports that foreclosures continued to climb in March as filings for court foreclosures and notice of default for notice and sale foreclosures increased in 12 of the 24 Oregon counties the company tracks.

March filings for court foreclosures (a.k.a. judicial foreclosures) were 1,598. A 20%  increase over the 1,282 reported in February. Seven hundred sixty-six court foreclosures were filed in January. For the quarter 3,656 court foreclosures were filed.

Notice of default (NOD) for notice & sale foreclosures reached 103 or a 9% increase over the 93 reported in February. In January, 69 NODs were filed. Three hundred-two NODs were filed for the quarter .

“While foreclosures did not increase at the same rate in March as they had in February and January, it is important to remember that many lenders and homeowners remain off the foreclosure radar until they can file in a very congested judicial system,” said John Helmick, Gorilla Capital. “To expedite the process, more lenders may elect to file NODs, instead. However, the foreclosure market continues to serve as a leading indicator of an economy struggling to recover with the expectation that eventually more jobs will be the stabilizing factor.”

Counties with the highest increases in court foreclosures during March included; Marion, Linn, Lane, Jackson, Multnomah and Washington. While Clackamas County made up the entire 9% increase in NODs in Gorilla counties registering a 75% increase in NODs filed for March.

Oregon March 2013 Filings

County Court Foreclosures Notice & Sale
Benton 10 1
Clackamas 194 19
Coos 25 1
Crook 0 1
Curry 0 1
Deschutes 84 3
Douglas 50 4
Jackson 118 9
Jefferson 0 2
Josephine 52 3
Klamath 37 5
Lane 115 9
Lincoln 10 2
Linn 83 4
Marion 193 7
Multnomah 296 15
Polk 35 4
Tillamook 32 0
Washington 211 8
Yamhill 53 5
TOTAL 1,598 103

Oregon February 2013 Filings

County Court Foreclosures Notice & Sale
Benton 5 1
Clackamas 187 5
Coos 29 4
Crook 0 1
Curry 0 3
Deschutes 80 6
Douglas 41 3
Jackson 83 8
Jefferson 0 2
Josephine 47 6
Klamath 0 3
Lane 83 5
Lincoln 17 1
Linn 48 5
Marion 120 9
Multnomah 282 13
Polk 46 5
Tillamook 14 0
Washington 161 9
Yamhill 39 6
TOTAL 1,282 95

Oregon January 2013 Filings

County Court Foreclosures Notice & Sale
Benton 6 0
Clackamas 86 8
Coos 12 1
Crook 1 0
Curry 0 0
Deschutes 63 2
Douglas 22 4
Jackson 72 9
Jefferson 3 2
Josephine 22 8
Klamath 17 13
Lane 70 9
Lincoln 7 4
Linn 28 5
Marion 89 6
Multnomah 149 13
Polk 17 2
Tillamook 3 2
Washington 74 11
Yamhill 25 5
TOTAL 766 104

*Court foreclosures per county may increase as additional foreclosures are filed

** As of November 2012, Gorilla Capital operates in Benton, Clackamas, Coos, Crook, Curry, Deschutes, Douglas, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Multnomah, Polk, Tillamook, Washington and Yamhill counties.