Oregon Foreclosures and Info

     There are a lot of Foreclosures in Oregon now.  Not as much as some places in the Country but there is a lot.  People always feel like there must be some special system involved.  There is not.

     Banks and Trustess Foreclose on homes everyday and they hire an agency and Brokerage firm to list them and put them for sale.  99% end up on the MLS.  They are selling FAST too.  So you need a good agent to get you updates on a regular basis as well as bird-dog some of these deals for you too!  We can do that so of course call us to discuss how ou Buyers Brokerage Service can work for you.

GET A LIST OF FORECLOSURES FROM US NOW!!

Call 503-799-8383 and Ask for DIRK KNUDSEN

Information for Sellers and Owners

If you are afraid for your home and your family that you may loose your home to foreclosure DON'T PANIC.  There are always options.  They include refinancing, loan modifications, Government backed programs like HARP and HELP for homeowners, a SHORT SALE, and a regular sale of your home.  We can help.  There are other options like Bankruptcy and legal counciling which a good attorney can help you with.

If you miss payments you will need to be at least 90 days late before you will get an official Notice Of Default.  At that point the bank will likely send you a Notice of Intent to Foreclose.  This is general part of a a Non-Judicial Foreclosure.  Here is an explanation of what will happen than.

Non-Judicial Foreclosure
The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A "power of sale" clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee. Regulations for this type of foreclosure process are outlined below in the "Power of Sale Foreclosure Guidelines".

Power of Sale Foreclosure Guidelines

If the deed of trust or mortgage contains a power of sale clause and specifies the time, place and terms of sale, then the specified procedure must be followed. Otherwise, the non-judicial power of sale foreclosure is carried out as follows:

• A notice of default must be recorded in the county where the property is located and the borrower and/or occupant of the property must be served with a copy of the notice at least 120 days before the scheduled foreclosure sale date.
  
  A copy of the notice must be published once a week for four (4) successive weeks, with the last notice being published at least twenty (20) days prior to the foreclosure sale.
  
  Said notice must contain a property description, recording information on the trust deed, a description of the default, the sum owing on the loan, the lender's election to sell and the date, time and place of sale.
  
• The borrower may cure the default at any time prior to foreclosure by paying all past due amounts, plus costs.
  
• The sale must be at auction to the highest bidder for cash. Any person, except the trustee, may bid at the sale, which take place between 9:00 am and 4:00 pm at the location stated in the notice of record.
  
  The sale may be postponed for up to 180 days from the original sale date if at least twenty (20) days advance notice is given, by mail, to the original recipients of the notice.

A deficiency judgment cannot be obtained through a non-judicial foreclosure, but may be pursued when other foreclosure methods are used.

OK?  So Get Help.  Call Us.  We can get you out form under this in most case.

Call 503-799-8383 and Ask for DIRK KNUDSEN

Here is a Map of all the Foreclosures Currently For Sale in the State of Oregon:  Updated Daily

WARNING:  This System is Simply Amazing So Be Prepared to be Blown Away!!