Oregon Foreclosures up 121% in April 2008
RealtyTrac released their April 2008 foreclosure data this week and Oregon ranks 23rd in the nation for per household foreclosures. There were 1,136 notices of defaults this month, up 1021% from April 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 doesn’t pay the default balance within 90 days then the bank records a notice of trustee sale with the coun