BEND, Ore. (AP) — April was the worst month for foreclosures in the history of Deschutes County, but observers say the surge is a result of banks and mortgage service companies clearing out a backlog.
The Bend Bulletin reports the county witnessed 581 foreclosures in April, far exceeding the previous record of 405 in March 2010.
Statewide, Oregon bucked a declining national trend in new foreclosure filings with a big increase in April.
The backlog in Deschutes County is the result of a host of foreclosures stalled since last fall by federal regulators who questioned the validity of so-called robo-signers and other practices used by some banks and service companies.
