05-26-2020  6:10 am   •   PDX and SEA Weather
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NORTHWEST NEWS

Oregon Supreme Court Gives Judge Deadline on Virus Ruling

Baker County Circuit Judge Matthew Shirtcliff ruled Gov. Brown's stay-at-home orders are invalid but Supreme Court want explanation

Three-Car Derailment in North Portland Signals Ongoing Safety Concerns

A train derailment in North Portland Tuesday morning resulted in no injuries, but damaged a Lombard Street overpass. It also served as a reminder of the safety hazards of living alongside railways.

During Pandemic, Educators and Community Partners Hope to Bridge the Gap for Students of Color

Internet connectivity, social isolation undermine student success

Secretary of State Race Close; Backhoe Issue Grabs Attention

The race for the Democratic nomination to be Oregon secretary of state — the second-highest statewide office — remains too early to call between front-runners Sens. Shemia Fagan and Mark Hass

NEWS BRIEFS

OSF Appoints David Schmitz as Fourth Executive Director

Schmitz will join Artistic Director Nataki Garrett to co-lead nation’s flagship repertory theatre ...

Rose Festival Inspired To Evolve Tradition With Virtual Presentations

The Rose Festival is looking different this year, but promises lots of fun events for families. ...

Oregon Food Bank and the Boys & Girls Club of the Greater Santiam Accepts FamilyCare Health’s Community Challenge

FamilyCare Health recently donated 2 million dollars to 14 Portland-based community organizations ...

New Poll Reveals COVID-19's Impacts on African American Communities

80% of those polled preferred to hold off on ending the shutdown to assure their safety ahead of boosting the economy ...

Nicholas Johnson Becomes Princeton’s First Black Valedictorian

Johnson is pursuing an Engineering degree, with Minors in Computer Science, Applied Mathematics, and Statistics...

Spike in coronavirus cases in Oregon traced to gatherings

REDMOND, Ore. (AP) — A spike in reported coronavirus cases in Redmond last week has been tied to family and social gatherings in the area.The Oregonian/OregonLive reports last week’s breakdown of coronavirus cases by ZIP code in Oregon reported eight new cases of COVID-19 in the...

Judge dismisses lawsuit against pellet grill company

SALEM, Ore. (AP) — A district court judge has dismissed a proposed class action lawsuit against barbecue grill manufacturer Traeger Pellet Grills, deciding the defendants failed to establish the court has jurisdiction.U.S. District Court Judge Bruce Jenkins of Utah dismissed without...

Kansas, Missouri renew Border War with 4-game football set

KANSAS CITY, Mo. (AP) — Kansas and Missouri are resuming their bitter Border War in football after the former Big 12 rivals agreed to a four-game series in which each school will play two home games beginning in September 2025.The fourth-longest rivalry in college football dates to 1891, but...

OPINION

Ballot Measure 26-210 is Needed Now

Though this measure was referred to the ballot by Metro, it was written by the HereTogether coalition ...

The Skanner News May Primary 2020 Endorsements

Read The Skanner News' midterm election endorsements for Oregon, Multnomah County, Portland, and ballot measures ...

A New Earth Day

Happy Earth Day. If we actually mean it, we will elect representatives who will force the military to clean up their pollution ...

Covid-19 Financial Warning: Consumers and Banks Should Stay Away From Payday Loans

When living costs exceed available financial resources, tough times lead to tough decisions ...

AFRICAN AMERICANS IN THE NEWS

Atlanta is home to 2 potential contenders for Biden's VP

ATLANTA (AP) — Neither public rivals nor personal friends, Keisha Lance Bottoms and Stacey Abrams spent years climbing parallel ladders at Atlanta City Hall and the Georgia Capitol. They are now Georgia’s most influential African American women. Bottoms, the 50-year-old Atlanta mayor,...

2020 Watch: Differing views on remaking post-virus economy

WASHINGTON (AP) — Presidential politics move fast. What we’re watching heading into a new week on the 2020 campaign:Days to general election: 162 ___THE NARRATIVEAs some parts of the nation continue to ease stay-at-home orders meant to slow the spread of the coronavirus, the economy...

The Latest: Fired NASCAR star wins World of Outlaws race

The Latest on the effects of the coronavirus outbreak on sports around the world:___Fired NASCAR star Kyle Larson won the World of Outlaws race Saturday night in Pevley, Missouri, a day after finishing second behind brother-in-law Brad Sweet in the first Sprint Cup event with live fans in the dirt...

ENTERTAINMENT

In prison, producer finds new voice for inmates, and himself

NEW YORK (AP) — David Jassy was a successful music producer who had worked with Britney Spears and others when he was sent to prison for killing a man during an altercation. While serving his time, he would hear talented young inmates rapping in the yards at San Quentin State Prison with...

Omar describes life as a fearless fighter in new memoir

MINNEAPOLIS (AP) — Democratic Rep. Ilhan Omar's metamorphosis from refugee to the first Somali-American in Congress has been well-documented. Now, Omar is out with a new memoir that offers her own spin on her path to prominence, starting with her childhood in Mogadishu. “This is What...

Celebrity birthdays for the week of May 31-June 6

Celebrity birthdays for the week of May 31-June 6:May 31: Actor-director Clint Eastwood is 90. Singer Peter Yarrow of Peter, Paul and Mary is 82. Keyboardist Augie Meyers of the Texas Tornadoes and the Sir Douglas Quintet is 80. Actress Sharon Gless (“Cagney and Lacey”) is 77. Actor...

U.S. & WORLD NEWS

Stanley Ho, who built Macao's gambling industry, dies at 98

HONG KONG (AP) — Casino tycoon Stanley Ho, whose business empire dominated the Portuguese gambling enclave...

Lebanon's migrant workers' plight worsens as crises multiply

BEIRUT (AP) — Long before the pandemic struck, they lived and worked in conditions that rights groups...

AP PHOTOS: Confined Moroccans find new ways to celebrate Eid

CASABLANCA Morocco (AP) — Instead of mass prayers and large family gatherings filled with colorful clothes,...

Virus stalls work to keep alive a rare rhino subspecies

NANYUKI, Kenya (AP) — It’s not quite a case of coitus interruptus, but efforts to create a very...

Asia Today: Philippines trying to ease quarantine congestion

BANGKOK (AP) — As about 24,000 Filipinos who lost their jobs abroad are being transported by land, sea or...

AP PHOTOS: Confined Moroccans find new ways to celebrate Eid

CASABLANCA Morocco (AP) — Instead of mass prayers and large family gatherings filled with colorful clothes,...

McMenamins
Les Christie CNN Money

NEW YORK (CNNMoney) -- The number of homes lost to foreclosure is closing in on levels not seen since before the housing meltdown.

Foreclosure filings -- including notices of default, scheduled auctions and bank repossessions -- during the first quarter fell 23% from a year earlier, the lowest level since the second quarter of 2007.

Last month, banks repossessed just under 44,000 homes. In September 2010, repossessions topped 100,000 a month.

"We're getting back to normal and will be there by next year," said Daren Blomquist, vice president at RealtyTrac.

For the past couple of years, foreclosures have been on the decline as homeowners seek alternatives like short sales, in which they sell their home for less than what they owe and the bank agrees to forgive the difference.

The deals are preferred by the banks over foreclosures and have less of a negative impact on a consumer's credit score. But now even the need to turn to short sales is waning.

Government initiatives, like the Home Affordable Modification Program and Home Affordable Refinance Program, have helped millions of borrowers avoid foreclosure. And last spring, under a $25 billion settlement deal with state and federal officials, the nation's largest mortgage lenders agreed to help struggling borrowers by lowering their mortgage rates, reducing their principal and other fixes.

Now, the landscape of foreclosures is starting to look a lot like it did in the pre-bust years, said Blomquist.

A larger percentage of the nation's foreclosure activity is occurring in areas suffering from severe economic problems, such as "Rust Belt" cities like Rockford, Ill. and Chicago, not in the recently-developed, mid-to-upper class neighborhoods of California, Florida and Arizona that were hit hardest when the housing bubble burst, he said.

And many of the people who lose their homes now are dealing with a layoff or personal issue, such as a divorce, illness or death in the family, said Blomquist. During the housing bust, people were forced to default because of plunging home prices and unaffordable mortgage terms.

There are some states that are still struggling with a backlog of foreclosures like Florida, Illinois and Georgia, all states where courts oversee the foreclosure process. Florida had more than twice as many bank repossessions as any other state in March -- nearly 7,600. Illinois, with more than 3,500, was second and Georgia, with 3,350, was third.

With prices expected to continue to rise -- they were up more than 8% year-over-year in January -- the number of short sales should continue to fall, and so should foreclosures, according to Blomquist.

 

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