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Salem Oregon Foreclosures 2nd Quarter 2011
Back in the boom, MERS was a cornerstone of the real estate market offering a way to offload mortgages to investors allowing banks to continue to originate loans and make bundles o' money.  Apparently, my strategy of waiting at the end of the rainbow for my pot of gold wasn't a good one: should have been a lender.  Lots of green, just not in the form of little people with funny hats.  Now, lenders wouldn't have been able to meet the demand of the American consumer for housing loans without sending loans off into the netherworld to be split up and chopped up into bite sized fare for investors.  This MERS legacy is the gift that is contributing to the ongoing hell that is real estate these days.
Getting real on Salem Oregon Foreclosures I almost didn't write my quarterly foreclosure post because the data, or lack thereof, isn't an accurate reflection of things to come.  So, I pulled a NAR this quarter and extrapolated my data a bit for you.   I wrote last quarter about the impact of MERS in Oregon, and in particular Salem.  I doubt most of you care what is happening in real estate in Topanga so ... more

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