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Stop Foreclosure - Oregon |
Oregon Foreclosure Law Summary
Most Common Method of Foreclosure: Power of Sale for deeds of trust.
Preforeclosure Notice:
Number of Notices: Two: Notice of Default and Notice of Sale. Notice of Default must be recorded.
Amount of Notice Required: For Notice of Sale, 120 days prior to sale. For publication, once per week for four consecutive weeks with the last publication more than twenty days pre-sale.
Content of Notice: a) Names of parties; b) description of the property; c) where deed of trust is recorded; d) nature of default; e) sum owing; f) election to sell; g) date, time, and place of sale; and h) right to reinstatement up to five days before sale by curing default.
Method of Service: By publication, and by both first class and certified mail to the grantor and occupant.
Sight to Cure Default/Reinstate: Up to five days before the sale. Limits on costs for a residential mortgage.
Post-Sale Provisions Regarding Proceeds: Any surplus proceeds go to the grantor.
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North Dakota Foreclosure Law Summary
Most Common Method of Foreclosure: Judicial.
Foreclosure by Power of Sale Permitted?: No, except mortgages held by the state which contain a power of sale.
Judicial Foreclosure Procedure: Action is brought in district court. The complaint must state whether the plaintiff will seek a deficiency judgment. Notice of Intent to Foreclose must be served on the owner of record at least thirty days, but not more than ninety days, prior to commencement of an action. The notice must state the amount due and that if the amount due is not paid within thirty days, foreclosure will be commenced. Notice is to be served by registered or certified mail, or in-hand. The sale is made by the sheriff.
Preforeclosure Notice:
Number of Notices: One.
Amount of Notice Required: If by advertisement, once per week for three consecutive weeks with the last publication to be at least ten days prior to the sale.
Method of Service: By advertisement, if a newspaper is printed in the county, otherwise by posting on the courthouse door and five other places. A sale made without the required notice must be set aside.
Right to Cure Default/Reinstate: After judgment but before the sale, the defendant can bring into court the amount due and the proceedings will be stayed, but the court can enforce the judgment if the defendant subsequently defaults in payments. Can cure default within thirty days of notice of intent to foreclose.
Redemption: Within 60 days, but one year for agricultural land. The period of redemption begins at the time of the filing of the foreclosure action or at the time of first publication of the foreclosure notice.
Post-Sale Provisions Regarding Proceeds: Any surplus after payment of the debt and costs shall be brought into court for the defendant, subject to the order of the court. Deficiency: No deficiency for foreclosure of residential property of four or fewer units up to forty contiguous acres; may obtain deficiency judgment for agricultural land of more than 40 acres but must be based on fair market value; for other properties, deficiency judgments may be based on appraised value
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