oregon  01Portland moves to foreclose on ‘zombie homes’

 

This is a registerguard.com article.

 

PORTLAND, Ore. — The Portland City Council voted Wednesday to move forward with a plan to foreclose on so-called “zombie homes” for the first time in 50 years as the city grapples with a swelling population and skyrocketing home costs that are locking new homeowners out of the market.

Commissioners and the mayor voted 4-0 in favor of the plan, with one member absent. The vote targets five of the city’s worst abandoned properties, the first part of a long-term plan to free up housing in an overheated market while clearing out squatters who have plagued developing neighborhoods outside the city’s hip core for years. They also voted to alter city code so Portland can sell a foreclosed property for its market value and not just for what’s owed in liens.

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