In January, 2012, 433 Oregon homes were slated for foreclosure. Though the number seems high, it represents a forty month low and a forty-five percent reduction from the same period last year. In Washington, January foreclosure filings declined by sixty percent from this same period a year ago.
Though foreclosures are declining in both Washington and Oregon, many experts predict that they will increase this yea: Mortgage Lenders have apparently greatly reduced foreclosure activity while they were negotiating a settlements with 49 states for various mortgage abuse violations. Now that 49 states have signed off on an agreement earlier this month, a wave of new foreclosures are expected to start up.