Oregon Foreclosure Law
Facts:
Judicial Foreclosure Available: Yes
Non-Judicial Foreclosure Available: Yes
Primary Security Instruments: Deed of Trust or Mortgage
Timeline: Approximately 120-180 Days
Right of Redemption: Yes, judicial foreclosure only
Deficiency Judgments Allowed: Yes, judicial foreclosures only
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Quick Summary:
In Oregon, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.
The foreclosure timeline in Oregon is typically 120 - 180 days from the time you miss your first payment until a Notice of Default or Notice of Sale is issued to your actual foreclosure date and sale.
Oregon borrowers have the right of redemption and are allowed deficiency judgments in judicial foreclosures only.
For more information on Oregon Foreclosure laws and regulations visit http://www.ncsl.org/public/leglinks.cfm and click on your state.
Or Contact:
Oregon's Attorney General's Office
100 Justice Building
Salem, OR 97310
Ph: (503) 378-4400
Fax: (503) 378-3784
