PENDLETON, Ore. — Real estate agents and a housing counselor in Eastern Oregon’s Umatilla County say foreclosures are spiking.
They tell the East Oregonian one reason for a jump in foreclosures is attention from big banks that hadn’t paid attention to smaller markets.
The paper reports foreclosures this year have already eclipsed last year’s count and are on pace to be the third-highest of the last decade. Among the 212 active judicial foreclosures in the county are 59 in Hermiston and 51 in Pendleton.
Denise Jerome, housing solutions manager for Community Action Program for East Central?Oregon, says two-year jobless benefits have run out, some people haven’t made payments for a long time, and banks hadn’t made a priority of them.