Summary of Oklahoma's Foreclosure Laws

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If you are facing foreclosure in Oklahoma, it’s important to understand some of the basics, including:

  • the most common type of foreclosure procedure (judicial v. nonjudicial) used in Oklahoma
  • how much time you have to respond
  • your rights and protections in the process, and
  • what happens afterwards (for example, whether you’ll be liable for a deficiency judgment).

Below we have outlined some of the most important features of Oklahoma foreclosure law. Keep in mind that this is just a summary; we’ve included statute citations so you can get more details from the laws themselves. And be sure to check out Nolo’s extensive Foreclosure section, where you can find information about all aspects of foreclosure, definitions of foreclosure terms (like redemption and reinstatement), and options to avoid foreclosure.

Topic

State Rule

Most common type of foreclosure process

Judicial (the foreclosure can be nonjudicial if the mortgage contract includes a power of sale clause; however, the borrower can force the lender to foreclose judicially by taking certain steps)

Time to respond

After foreclosing party files lawsuit, borrower has 20 days to respond. After the court issues a foreclosure judgment, foreclosing party must serve a notice of sale on borrower by mail and publish notice of sale in a newspaper at least 30 days before the sale.

Reinstatement of loan before sale

Not available (except as permitted by the terms of the mortgage)

Redemption after sale

Allowed until court confirms sale

Special protections for foreclosures involving high-cost mortgages

None

Special state protections for service members

Federal Servicemembers Civil Relief Act protections extended to members of the Oklahoma National Guard when ordered to state active duty or full-time National Guard duty. Okla. Stat. tit. 44, § 208.1

Deficiency judgments

Allowed, but limited to the difference between the total debt and the fair market value of the property, or the difference between the total debt and the foreclosure sale price, whichever is less. Lender must ask the court for deficiency judgment at the same time it makes a motion for an order confirming the foreclosure sale or within 90 days after sale.

Cash exempted in bankruptcy

None

Notice to leave after house is sold

If the foreclosed homeowners don’t leave the home, the court may (in the order confirming the sale) order the clerk of the court to issue of a writ of assistance to the sheriff to give the purchaser possession of the home.

Foreclosure statutes

Okla. Stat. tit. 12, §§ 686, 764 to 765, 773; Okla. Stat. tit. 46, §§ 41 to 49

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