Most Oregon foreclosures do not involve the court system. Instead, lenders are provided with the right to foreclose on a property through the power of sale clause that is included in most mortgages. If the power of sale clause is present in a mortgage then the lender must follow the notice and sale requirements described in the mortgage documents. Sometimes the lender is given the power of sale and the document is silent as to the notice that must be provided and the details of the sale. In that case, state law provides the notice and sale requirements.
If there is no power of sale clause in a mortgage document then the lender must sue the borrower in state court and the court must issue a judgment of foreclosure.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.