In response to recent lender procedures and irregularities by some lenders disclosed in October, a number of banks temporarily suspended foreclosure activity. A month later, some banks had resumed foreclosure activity, however Bank of America had yet to restart foreclosures as of November 15.  This has had minimal impact on Jackson County, with foreclosure properties scheduled for sale and bank-owned properties (REO) holding steady.  However homes whose owners have received Notices of Default and are under threat of foreclosure declined in October compared to September by 9.15% (see chart below).  Please request information about specific Southern Oregon foreclosure properties if you are interested in purchasing.

Foreclosure Inventories—Preforeclosure inventory is an estimate of the number of properties that have had a Notice of Default filed against the property, but have not yet been Scheduled for Sale. The Scheduled for Sale inventory indicates those properties that have had a Notice of Trustee Sale filed, but have not yet been sold or had the sale cancelled. The Bank Owned (REO) inventory indicates the number of properties that have been sold Back to the Bank at the trustee sale, and which the bank has not yet resold to another party.