January foreclosures up


Three court filings in Jefferson County

Foreclosures filed in the 20 Oregon counties monitored by Gorilla Capital increased slightly in January to 371, up from 277 in December 2013.

Jefferson County had three court filings and one filing of a notice of default. In December, there were no court foreclosures and three notice of default filings, and in January 2013, three court foreclosures and two notice of default filings.

For last year, Jefferson County had 55 court foreclosures, with 32 of those filed in July and August.

"In smaller counties, sometimes the filings don't get recorded every month, and will come through every few months in a batch," explained Ally Leavitt, marketing manager for Gorilla Capital, of Eugene, which purchases distressed real estate.

The last five months of 2013, foreclosure filings had been in a decline statewide.

“We expect foreclosures to continue to climb in (the first quarter), but not reach the high totals of 2008 through 2010,” said John Helmick, CEO of Gorilla Capital.

“State legislation passed in August of 2013 temporarily decreased foreclosures by limiting lenders' ability to file foreclosures until they and the borrower went through a legislated mediation process envisioned to be 60-days, but in reality is taking six months or more,” he said.

There were 284 court foreclosures filed in January compared to 165 in December. notice of default filings hit 112 in December, while only 87 were filed in January.

“While the mediation process does not appear to be reducing the number of foreclosures, it has created a void of foreclosure actions filed with the courts over the last six months,” Helmick said. “As lenders receive the certificate of compliance from the mediator, we expect foreclosure filings to increase to early 2013 levels.”

For more information, visit www.GorillaCapital.com, or call 541-344-7867.