Foreclosures Jump... More on Case-Shiller Report

Newly initiated foreclosures increased to 382,000 in the third quarter, a 31.2 percent jump over the previous quarter and a 3.7 percent rise from a year ago, the Office of the Comptroller of the Currency and the Office of Thrift Supervision said in their quarterly mortgage report.

The number of foreclosures in process increased to 1.2 million, a 4.5 percent increase from the second quarter and a 10.1 percent increase from a year ago, according to the regulators.

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There's a story in yesterday's Oregonian covering the Case-Shiller report. The article cited several real estate brokers saying that  "... at least 30 percent of home sales in the Portland area today are short sales or foreclosures..."