Interactive map: Oregon foreclosures
PORTLAND, Ore. -- More than 23,000 Oregonians who lost homes to foreclosure between 2008 and 2011 will soon get to claim part of a $25 billion multi-state settlement with the nation's biggest banks.
The settlement was reached over allegations about abuses in the mortgage and foreclosure process.
To qualify, borrowers must have lost their home to foreclosure between Jan. 1, 2008 and Dec. 31, 2011, and had their mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase or Wells Fargo.
Affected homeowners will soon receive claim forms in the mail. Homeowners are also eligible for non-cash assistance, such as mortgage modifications.
The claims deadline is Jan. 18, 2013. Payments will depend on the number of people who apply for assistance, but will likely be around $840. Payments should be mailed in mid-2013.
The Oregon Department of Justice has set up a webpage to help homeowners navigate the claims process.
As part of its outreach, the Oregon Department of Justice also distributed a spreadsheet that shows the geographic location of each foreclosed Oregon home.
Mason Walker, the Business Journal's new media manager, made an interactive map of the data. You can search the state by zip code to see where the affected foreclosures are located.
The Portland Business Journal is a KATU News partner.
Portland, Bend, Salem, and Ashland... hmm is there any common denominator there other than population that might explain the high foreclosure rates?
I wonder how old many of these foreclosed homes were, or how many are part of subdivisions built in the 80's and 90's and sold at high prices to people who really couldn't afford them, or the accompanying property taxes. Were some buyers gullible, or just hoping for the best in an uncertain economy? Â
 @jpk I suspect a lot of people wanted a piece of the falsely exploding housing market and bought stuff they knew they couldn't afford with the hopes of making money many knowing they could always just give it back to the bank if it didn't work out.
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Unlike when I bought my first house and you had to have more then 10% down So you have a lot to lose if you screwed up and lost the home.
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I would really like to know how many of these homes were purchased with little to nothing down meaning very little financial risk that the buyer and all the risk to the bank. I could be wrong but I suspect they work that many people that put huge amounts down and lost out. Those people likely would be writing it out still hoping to eventually recover their investment.
 @jpk sorry the voice recognition software was not working too well today with the radio on in the background:)
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Forgot to add that I am one of those in the category of waiting for the market to recover so I don't lose money.
@FreedomRocks I sincerely hope it recovers for you. I am in Chapter 13 bankruptcy due to credit cards. Phooey!