Oregon Foreclosures up 118% in March 2008.
RealtyTrac released their March 2008 foreclosure data this week and Oregon ranks 22nd in the nation for per household foreclosures.
There were 1,119 notices of defaults this month, up 106% from March 2007. The bank files a notice of default when a mortgage payment is late and attempts to reconcile the issue out of court have failed. Click on any graph for a better image.
If the homeowner does not pay all the default balance within 90 days then the bank records a notice of trustee sale with the county and schedules a trustee’s sale. There were 434 notices of trustee sales in March, up 144% from March 2007.
The best way to compare state foreclosure rates is with a penetration or per household rate. Here is a comparison of the regions states. A larger number indicates fewer foreclosures.
Here is a map of the nation from RealtyTrac.
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Original post by Clint8200
