Oregon Foreclosure Timeline and Laws

Oregon Foreclosure Process and Procedure

If you default on your mortgage, your lender can institute foreclosure proceedings against you and auction your property at a foreclosure sale.

Foreclosures in Oregon are conducted by non-judicial proceedings. Judicial proceedings are conducted if no power of sale clause is in the deed of trust.

Notice Requirements for Foreclosure in Oregon

The lender files, records and publishes a notice of default for 4 consecutive weeks in a newspaper in the county where the property is located at least 20 days prior to the sale, containing the date, time and place of sale, description of the default, the lender’s election to sell and recording information from the deed of trust, and must serve the borrower personally at least 120 days before the sale. Notice of sale must be recorded with the county recorder.

Oregon Deficiency and Anti-Deficiency Laws

The lender may obtain a deficiency judgment if the property is sold at a public sale for less than the loan amount.

Oregon Redemption Rights

Oregon has a post-sale statutory right of redemption for judicial foreclosures only, which allows the borrower to redeem the property 180 days after the sale by paying the arrearages, fees and costs by submitting notice to the Sheriff not more than 30 and not less than 2 days in advance of the redemption expiration.

Oregon Assistance, Special Programs, Government Help, and Law Updates

Foreclosure Programs:

• Oregon Foreclosure Avoidance Counseling -HUD
• The Home Affordable Mortgage Modification Program
• The Home Affordable Refinance Program
• The Home Affordable Foreclosure Alternatives Program
• FHA Secure
• Hope for Homeowners

Foreclosure Lawyer

Oregon foreclosure laws are complex. It is recommended that you consult with a foreclosure lawyer who can advise you about options to avoid foreclosure including refinancing, reinstatement, deed in lieu, mortgage modification, short sale or bankruptcy.