Oregon foreclosures jump 20 percent

Oregon foreclosures jump 20 percent - KATU

Along with grass seed, hazelnuts and Christmas trees, Oregon is becoming a national leader of another kind.

The rate at which Oregonians are falling into foreclosure unexpectedly jumped 20 percent in the first quarter, making Oregon No. 3 in the country.

The Beaver State still ranks far behind longtime foreclosure champs Nevada and Florida. But the rate of increase in Oregon has
put it in the top five.

Oregon's foreclosure hot spots are Crook, Deschutes, Jefferson, Josephine, Jackson, Klamath, Yamhill, Columbia and Curry counties.

The state's senior economist says the rising foreclosure numbers are in part a function of timing. Oregon was late to enter the recession, so its foreclosure rate will likely stay higher longer.


http://www.katu.com/news/business/97804509.html

And after 3 pay cuts in the last 15 months, I'm struggling to make that payment every month.

Not in danger of foreclosure. Yet. But if anything else breaks or goes wrong this winter, I will be.

There's nothing left to fund maintenance.

These are hard times for so many good people.

Since the "Walk Away" from mortgages that are messed up is increasingly becoming a strategy, those states where there are laws protecting those that do default on them and walk away are probably going to see higher rates of these sorts of defaults now.

From:

http://www.bankruptcylawnetwork.com/2008/03/02/is-walking-away-from-your-house-an-alternative-to-bankruptcy/



Thankfully I rent, though I moved up here earlier to be able to afford to buy a house. I think I'll wait a while yet.