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Home foreclosures rise in January

Foreclosures filed in 20 Oregon counties, as monitored by Gorilla Capital, a Eugene-based purchaser of distressed real estate, increased slightly in January to 371, up from 277 in December 2013.

During the last five months of 2013, foreclosure filings had been in a decline, officials said.

In Washington County, 25 foreclosures were filed in January, compared to 46 in Josephine County, 39 in Multnomah County, 28 in Marion and Clackamas counties and 26 in Jackson County.

“We expect foreclosures to continue to climb in [the first quarter of 2014], 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.”



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