[?] Subscribe To
This Site

XML RSS
Add to Google
Add to My Yahoo!
Add to My MSN
Add to Newsgator
Subscribe with Bloglines

Home
Foreclosure Blog
Def. of foreclosure
Judicial
Non-Judicial
Avoiding Foreclosure
Foreclosure Scams
Government Help
Tips-avoid foreclosure
Buying foreclosures
Investors: how to
FL gov foreclosures
Hope Now
Project Lifeline
FL foreclosure info
Gov foreclosure list
Contact Us
FAQ
Foreclosure Directory
Foreclosure News
Phony counseling
Foreclosure Forum
Foreclosure Attorneys
Loan Modification

Oregon foreclosure

The Oregon foreclosure process will allow either judicial foreclosure or non-judicial foreclosure. Judicial foreclosure requires that a lawsuit be filed at the courthouse of the county where the property is located.

Once the lawsuit is filed, a judge will determine how much you will need to pay in order to cure the default on the loan. You will get a bit of time to pay this off. If you don't pay in the time allowed, then the judge will allow the sale to go through. The sale will be carried out at the county courthouse.

If the mortgage or deed of trust has a power of sale clause in it, then the non-judicial foreclosure process will be used. The power of sale clause is the clause that gives the lender the power to sell the house without first having to file a lawsuit.
,BR>If the power of sale clause contains the time, place and terms of the sale, then those terms are followed. If the power of sale clause doesn't specify these then the non-judicial foreclosure process has to be carried out in the following manner:

  1. A notice of the default must be recorded at the recording office of the county where your property is located. This notice must contain a description of the property, explain the default, how much is owed, time, place and date of the sale and the information of when the mortgage or deed of trust was recorded.

  2. At least 120 days before the sale is to take place, you must be served with a copy of this notice.

  3. A copy of this notice will need to be published once a week for 4 consecutive weeks in a newspaper of the county where your property is located. The last notice must be published 20 days before the sale.

  4. You can stop the foreclosure at any time by curing the default.

  5. The sale can be postponed at any time for up to 180 days by giving you notice at least 20 days before the sale is to occur.

  6. The property will be auctioned between 9{00AM and 4:00PM to the highest bidder on the date specified in the notice.The foreclosure process takes about 5 months in Oregon.

    Click here to go from "Oregon foreclosure" page to "foreclosure directory".


    footer for Oregon foreclosure page