Tag: judicial foreclosure

By February 24, 2014 0 Comments Read More →

Multnomah County Foreclosure Panel Publishes Consensus On Common Issues

Attorneys and pro se homeowners appearing in judicial foreclosure cases in Multnomah County should take note of the Consensus of Judges on Multnomah County Foreclosure Panel. The Consensus is a non-binding set of “rulings” of the foreclosure panel that represent the consensus view of the judges who serve on the panel. The Consensus is intended […]

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Loss Mitigation Under the New Mortgage Servicing Rules
By February 21, 2014 1 Comments Read More →

Loss Mitigation Under the New Mortgage Servicing Rules

On January 10, 2014, new mortgage servicing rules promulgated by the Consumer Financial Protection Bureau went into effect. Among other things, the new rules include detailed requirements for loss mitigation. If a servicer violates the loss mitigation provisions, a borrower may sue for damages, costs, and attorney fees. Whatever their shortcomings, the rules are the […]

Posted in: Features
By February 3, 2014 0 Comments Read More →

Did You Know? Oregon Treats Residential and Non-Residential Trust Deeds Differently

Homeowners, and even attorneys, are often confused about the difference between a residential and a non-residential trust deed under Oregon law. The distinction is not intuitive and the Legislature has substantially amended the statute that defines “residential trust deed” twice since the foreclosure crisis began. What is a Residential Trust Deed? Under current law, a […]

Posted in: Did You Know?
By October 24, 2013 3 Comments Read More →

Did You Know? Oregon’s Anti-Deficiency Statute Protects Borrowers After Judicial Foreclosures of Residential Trust Deeds

In Oregon, a trust deed may be foreclosed judicially or nonjudicially. After a nonjudicial foreclosure, the borrower is not personally liable for any shortfall if the proceeds are insufficient to pay off the full debt. The protections of ORS 86.770(2) apply even if the foreclosed property is a rental, a second home, or commercial property. […]

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By September 25, 2013 0 Comments Read More →

Did You Know: Oregon Home Rescue Program Offers Mortgage Payment and Reinstatement Assistance?

On August 28, OHSI launched the new Home Rescue Program statewide. Functionally, the program is an expanded version of the recently concluded Mortgage Payment Assistance Unemployment (MPAU) program. Every other Wednesday at noon, 200 slots open up for struggling homeowners who have suffered a significant (10%+) drop in income compared to 2011 or 2012. Eligible […]

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By September 20, 2013 0 Comments Read More →

RealtyTrac Finds Oregon Foreclosures Surging

RealtyTrac recently found that “foreclosure starts increased from the previous month in 26 states and were up from a year ago in 15 states, including Maryland (up 275 percent), Oregon (up 137 percent), New Jersey (up 89 percent), Connecticut (up 37 percent), and New York (up 27 percent).” Oregon had the second largest percentage increase […]

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By September 20, 2013 0 Comments Read More →

AP: Foreclosures Spiking in Eastern Oregon County

The AP reports that foreclosures in Umatilla County, Oregon are spiking. Foreclosures this year “have already eclipsed last year’s count and are on pace to be the third-highest of the last decade.” Read the full article on HeraldNet.com here.

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Getting To Know Niday: A Further Look at the Oregon Supreme Court’s Landmark Decisions on MERS
By July 4, 2013 2 Comments Read More →

Getting To Know Niday: A Further Look at the Oregon Supreme Court’s Landmark Decisions on MERS

THIS IS PART TWO OF A TWO-PART SERIES ON THE RECENT OREGON SUPREME COURT DECISIONS IN BRANDRUP V. RECONTRUST AND NIDAY V. GMAC. BOTH CASES INVOLVE LEGAL ISSUES ARISING OUT OF THE NONJUDICIAL FORECLOSURE OF MERS TRUST DEEDS. READ PART ONE: BREAKING DOWN BRANDRUP. Hurricane Niday touched ground nearly one year ago when the Oregon […]

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Breaking Down Brandrup: A First Look At The Oregon Supreme Court’s Landmark Decision on MERS
By June 16, 2013 11 Comments Read More →

Breaking Down Brandrup: A First Look At The Oregon Supreme Court’s Landmark Decision on MERS

The Oregon Supreme Court recently published anxiously-awaited opinions in two MERS cases: Brandrup v. ReconTrust Company, N.A. and Niday v. GMAC Mortgage, LLC. Since that day attorneys have been poring over every jot and tittle looking for confirmation, meaning, instruction, loopholes, and more. In short, attorneys have been busy trying to figure out how to […]

Posted in: Features
By June 5, 2013 0 Comments Read More →

Revamped Foreclosure Mediation Program Goes Live August 4

On June 3, Governor John Kitzhaber signed SB 558 into law. SB 558 closes the loophole that allowed lenders to avoid mediation with a borrower facing foreclosure if the lender intended to foreclose judicially. The new law also streamlines the process and incorporates lessons learned during the first year of operation, recommendations from stakeholders, and […]

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