Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Oregon's mortgage pain spreads to prime borrowers
By Ryan Frank, The Oregonian
November 20, 2009
Nearly one in 10 Oregon homeowners was late on at least one mortgage payment this fall, the highest rate on record, and those troubles are expected to grow worse into 2010.
The Mortgage Bankers Association says about 9.4 percent of Oregon's 631,000 mortgages were delinquent or in foreclosure in the third quarter. That's up from 5.2 percent a year ago and outpaces the 7.7 percent high from the 1980s recession.
After starting with risky subprime loans, the foreclosure frenzy has pushed deeper into more traditional prime loans. The state's double-digit unemployment rate has dragged more credit-worthy borrowers with prime loans into default. The rate of prime loans in Oregon at least one payment late has more than doubled in a year.
The downbeat report chills recent hopes that stabilized home prices might signal a housing market rebound.
Mark McMullen, a Moody's Economy.com director, said he expects foreclosures to "continue to rise through the middle of next year as the (foreclosure) moratoria expire."
Growing foreclosures will drag down home prices elsewhere. Those falling prices will pull more homeowners into a financial pinch as their home value falls below their mortgage debt.
"It's a ... more

__________________________________________________
Are you on The Rain? Grow Your Network!