In Oregon, lenders have two options to foreclose on a property in default: judicial foreclosure and non-judicial foreclosure. For judicial foreclosure, the lender must file a lawsuit and obtain a court order to auction the property, after which the borrower has 180 days to redeem the property. For non-judicial foreclosure, the lender can foreclose if the deed of trust contains a power of sale clause; the lender must then provide notice and publish advertisements before auctioning the property to the highest bidder. Deficiency judgments are allowed after foreclosure in Oregon.

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Oregon Foreclosure Law Summary
WHAT IS A SHORT SALE
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WHY USE SHORT SALE US
- Judicial Foreclosure Available: Yes
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- Non-Judicial Foreclosure Available: Yes
WHO QUALIFIES FOR A SHORT SALE
- Primary Security Instruments: Deed of Trust, Mortgage
FAQs
- Timeline: Typically 180 days
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- Right of Redemption: Yes
VALUE YOUR HOME
- Deficiency Judgments Allowed: Yes
STATE FORCLOSURE LAWS
In Oregon, lenders may foreclose on deeds of trusts or mortgages in default
CONTACT US using either a judicial or non-judicial foreclosure process.
HIRE US Judicial Foreclosure
The judicial process of foreclosure, which involves filing a lawsuit to obtain a
court order to foreclose, is used when no power of sale is present in the
mortgage or deed of trust. Generally, after the court declares a foreclosure,
your home will be auctioned off to the highest bidder.
In this type of foreclosure, the borrower may redeem the property by paying
the purchase price, with interest, the foreclosure costs and the purchaser's
expenses in operating and maintaining the property within 180 days after the
date of sale. The borrower must file a notice no less than two (2) days and not
more than thirty (30) with the sheriff to redeem.
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:

2. 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.
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