Oregon Foreclosures Appear Likely to Shift to the Courts | LoanSafe.org
For half a century, the vast majority of the state’s residential foreclosures have occurred without a judge’s involvement. Oregon is one of 24 states that allow nonjudicial foreclosures, provided lenders give borrowers proper notice, publicize the sale and abide by other requirements.
But late last year, federal judges began blocking them, ruling that lenders had failed to follow one of those requirements: filing the mortgage’s ownership history in county records.
I have said many times that nonjudicial foreclosure is a terrible thing, whether done by CIDs or banks. Here is some reconsideration of the practice taking place in Oregon.