Oregon foreclosure filings plunge as new mediation rule kicks in

The number of foreclosures filed in Oregon’s seven largest counties fell by 80 percent from August to September — down 42 percent from a year ago — in the wake of a new foreclosure mediation program the state initiated the same month that requires lenders to give homeowners 60 days’ notice on a pending foreclosure filing.

“I think it’s a temporary drop,” an Oregon attorney told Oregon Live. “If you can’t start a foreclosure until you give notice at least 60 days before, then you can’t (start a foreclosure) in August and September.”

Source: Oregon Live