The Latest: Portland plans to foreclose on 'zombie homes'

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Posted: Jun 15, 2016 7:44 PM
The Latest: Portland plans to foreclose on 'zombie homes'

PORTLAND, Ore. (AP) — The Latest on Portland's plan to foreclose on "zombie homes" to free up housing in an overheated market and clean up blight-plagued neighborhoods (all times local):

4:30 p.m.

The City Council has voted to proceed with plans to foreclose on five so-called "zombie homes" for the first time in 50 years.

The four council members present Wednesday voted unanimously to send the homes to the city treasurer for action. A fifth member was not present.

Booming Portland has grappled with a swelling population and skyrocketing home costs that threaten to lock new homeowners out of the market.

The foreclosures are part of a plan to free up housing in an overheated market while clearing out squatters that have plagued developing neighborhoods outside the downtown area.

The five homes in question have racked up more than $375,000 in unpaid liens over the years.

The action applies only to vacant and abandoned homes in cases where owners can't be found.

Owners have a grace period of one year to recover their property after the foreclosure sale.