Summary of Oregon's Foreclosure Laws

Topic	State Rule
Common type of foreclosure process	Nonjudicial  Judicial foreclosure is allowed if foreclosing party chooses it
Time to respond	Nonjudicial: Foreclosing party must record a notice of default and serve it on homeowner by mail. Foreclosing party must also serve a notice of sale on homeowner 120 days before the sale.  Judicial: After foreclosing party files lawsuit, homeowner has 20 to 30 days to respond.
Reinstatement of loan before sale	Up to five days before sale. The law limits the amount homeowner can be charged in costs and fees.
Redemption after sale	No
Special protections for foreclosures involving high-cost mortgages	None
Special state protections for service members	Or. Rev. Stat. § 105.111
Deficiency judgments	Not available
Cash exempted in bankruptcy	$7,500 for one person, $15,000 for a married couple
Notice to leave after house is sold	New owner entitled to possession 10 days after the sale; after that former owner can be evicted without notice. Or. Rev. Stat. § 91.040
Foreclosure statutes	Or. Rev. Stat. §§ 86.735 to 86.795, 88.080-88.100