City officials in booming Portland have developed 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 threaten to lock new homeowners out of the market. The City Council is scheduled to vote Wednesday on whether to foreclose on 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.

Foreclosure News



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