KPLU Local News
(2009-10-16)
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SEATTLE, WA
(N3) -
Foreclosure filings soared in Idaho in the third quarter of this year. A new report from the firm RealtyTrac also showed an uptick in foreclosures in Oregon but an unexpected dip in Washington State. KPLU's Tom Banse has more.
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Foreclosure filings increased 28 percent in Idaho between the second and third quarters according to RealtyTrac. That makes Idaho's foreclosure rate now the fifth highest in the nation. Oregon is 11th worst in the country. It experienced a smaller quarterly increase. A real estate researcher at Washington State University says the 7 percent dip in Washington State may be "illusory." Glen Crellin sees few prospects for relief for homeowners in the near term.
Glenn Crellin: "They're hearing the economists proclaim that the recession itself is over. They're not paying as much attention perhaps to the fact that employment numbers are continuing to decline and that wage rates are similarly suffering."
Crellin is concerned that early rounds of a federal loan modification program "don't seem to have had much effect." I'm Tom Banse reporting. © Copyright 2012, N3
