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Homeowners lose their dwellings when banks foreclose on them through shady practices, but groups studying Oregon foreclosures say local governments and the services they provide are losing out, too.

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Glass says that an important step for Oregon, statewide, is to "look Adidas Boost Men Black

of what the scope of the problem is and how it's impacting Oregon."

at auditing our mortgage Adidas Boost Laceless records so that we can really have a clear idea D Rose 1.0 Shoes

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Kimball says it's going to take years to sort out who owns the titles that MERS and associated groups are trying to foreclose on. Due to missing records, he says, "I feel there is so much illegal paperwork by the banks that it only makes sense for an indefinite moratorium until people can know for sure who owns what."

lost out on $4.3 million between 2005 and 2009 due to illegal registration of homes by MERS (Mortgage Electronic Registration Systems), an electronic title company that doesn't record title transfers in counties as required by Oregon law. By bypassing the average $42 fee for professional recording, "the mortgage industry is cheating Oregon counties out of vital revenues that could fund local services," Glass says. "That's the bottom line."

Occupy Eugene will hold a press conference at noon Friday, May 11, to ask the governor and attorney general for a moratorium on foreclosures. "Our economy is in such poor shape that we can't afford to have people on the streets trying to survive, when they could be housed and devoting time to working on gaining employment," Kimball says.

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Michelle Glass with Project REconomy says that testimony before the Oregon legislature estimated the Lane County D Rose Englewood 2017

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5 Million Lost to Big Banks

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Adidas Boost Laceless

Adidas Boost Laceless

Reid Kimball, of the Occupy Foreclosure Action Committee, says that if the $4.3 million estimate is extrapolated, that's a little more than $1 million per year, and a total of $7.5 million that Lane County has lost since 2005.

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