Ore. foreclosure filings up 236 percent in April
Monday, June 6, 2011
PORTLAND, Ore. (AP) -- Oregon is bucking a declining national trend in new foreclosure filings with a big increase in April.
The Oregonian reports that Realty Trac Inc. figures show that newly launched foreclosure actions dropped 14 percent nationally in April.
But in Oregon they jumped 236 percent, from 1,100 to 3,700. Those figures are from another foreclosure data tracker, ForeclosureRadar.com.
But Realty Trac recorded a high number too -- 3,200 in Oregon.
The surge in "notices of default" comes from one loan servicer -- Bank of America Corp.'s foreclosure arm, ReconTrust Co.
Federal judges in Oregon have halted foreclosures by ReconTrust and other lenders because documents showing the successive chain of mortgage ownership had not been publicly filed in county recorders' offices, as required by Oregon law.
Information from: The Oregonian, http://www.oregonlive.com