Portland and Seattle area home owners are having a trying time keeping up with their mortgage payments. Portland, Oregon now leads the country ingrowth in missed mortgage payments since 2007. Portland is up nearly one hundred percent. Seattle for its part ranked fourth with a nearly two-thirds increase.
The Pacific Northwest as a whole is falling behind the national average when it comes to staying current on mortgage payments. In March, a dozen U.S. cities saw an increase in “serious mortgage delinquency rates.”Four of those cities, Portland, Eugene, Seattle and Bremerton are all in either Oregon or Washington.
Both the bankruptcy and state courts in Oregon and Washington should see an exponential growth in foreclosure related activity in the coming year.