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Learning Center | How to Buy Oregon Foreclosures

How to Buy Oregon Foreclosures
Overview
Basic Steps to Purchasing Preforeclosures
Basic Steps to Purchasing Property at an Auction Sale

Answers
 

Overview

In Oregon, the primary method ofdeed of trustforeclosure isnon-judicial. However, if adeed of trust does not contain thepower of sale language or a standard mortgage is used, the lender may seekjudicial foreclosure.

There is a rather lengthy notice and cure period between the time a property owner receives anotice of default until the property is sold at apublic foreclosure auction sale – usually six (6) months or more. Accordingly, don’t wait until the property becomesReal Estate Owned (REO) after the auction because the property will cost more than it would inpreforeclosure.


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