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Archive Home > 2002 > September > 13 > Mortgage defaults spike in Central Oregon

Mortgage defaults spike in Central Oregon

Deschutes County unemployment rate soared 28.1 percent

By Monica Lee / The Bulletin
September 13, 2002

A prolonged slow economy and high unemployment in Central Oregon has culminated in rising mortgage defaults.

Even with relatively low mortgage rates, which allow homeowners to refinance their home loans and lower their monthly payments, the number of mortgage defaults in Central Oregon shot up....

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