Notices of default increase in July

No court foreclosure filings


There were more notices of default and court foreclosures filed in July than any of the previous months in 2013, according to Gorilla Capital, which monitors foreclosures in 20 Oregon counties, including Jefferson County.

Between the two foreclosure options, there were 1,922 filed in July, while 1,526 were filed the previous month. In Jefferson County, there were three notices of default filed in July, but no court foreclosures. In June, there were no filings of either type.

In the counties surveyed by Gorilla, July notice filings reached 119, compared to 109 in June, for a 9 percent increase. There were 140 notices of default filed in May; 99 in April; 103 in March; 95 in February; and 104 in January.

For the first six months of 2013, 769 notices have been filed in the 20 counties.

Filings for court foreclosures (also known as judicial foreclosures) were up 19 percent over last month. There were 1,803 court foreclosure filings in July; 1,510 in June; 1,194 in May; 1,266 in April; 1,014 in March; 1,282 in February; and 766 in January. A total of 8,835 court foreclosures have been filed in 2013 to date.

"Based on how many homes are thought to be sitting in the queue for foreclosure, we can expect court foreclosures to stay relatively consistent, with an occasional rise in filings, while NODs remain fairly steady,” said John Helmick, CEO of Gorilla Capital. “A stronger housing market in many communities is motivating lenders and homeowners to move these houses through the foreclosure process and back on to the market where buyers are waiting.”

Gorilla Capital is one of the nation’s leading purchasers of distressed real estate. In Oregon, the average time a Gorilla Oregon house stays on the market after remodel is just two weeks, Helmick said, adding that the short time on the market, coupled with the reduction in foreclosure filings, is a strong indication that the housing market is slowly on the mend.




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