Lane County Saw High Rate of Foreclosures In December
Foreclosures rose in several Oregon counties during the month of December. Eugene based real estate buyer Gorilla Capital reported there were 753 foreclosures in 2014.
Lane County saw 94 foreclosures in December 2014. Ally Leavitt with Gorilla Capital says the fourth quarter is traditionally slow for foreclosures, but the change in Oregon’s process could be a factor.
Leavitt: “Up until 2012, Oregon was primarily a non-judicial foreclosure state but there was some adjustments to encourage mediation and that’s when it transitioned. The home owner and the lender have to do a mediation session and try to see if there’s some way they can come to terms with the mortgage and see if there’s some way we can keep the owner in the house.”
Leavitt believes the economy is improving and says home prices should continue to stabilize nationally and in Oregon. The state’s website provides a list of resources for homeowners facing foreclosure.