Oregon foreclosures jump 20 percent in 1st quarter

PORTLAND, Ore. (AP) — Along with grass seed, hazelnuts and Christmas trees, Oregon is becoming a national leader of another kind.

The rate at which Oregonians are falling into foreclosure unexpectedly jumped 20 percent in the first quarter, making Oregon No. 3 in the country.

The Beaver State still ranks far behind longtime foreclosure champs Nevada and Florida. But the rate of increase in Oregon has put it in the top five.

Oregon’s foreclosure hot spots are Crook, Descutes, Jefferson, Josephine, Jackson, Klamath, Yamhill, Columbia and Curry counties.

The state’s senior economist says the rising foreclosure numbers are in part a function of timing. Oregon was late to enter the recession, so its foreclosure rate will likely stay higher longer.

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Information from: The Oregonian, http://www.oregonlive.com