deficiency judgment: Should I consider a Short Sale or Foreclosure in Oregon?
- 12/06/11 05:42 PM
We are constantly being asked if sellers should consider a short sale if they are in the midst of being threatened with foreclosure. To answer that question one would need to thoroughly research their particular lending situation. First of all it is important to know that Oregon is a "one action" state. This means that a lien holder holding a note on a piece of Real Property has one option to settle the debt that is owed. If the lien holder chooses to foreclose, then that is considered their choice of action. They have repossessed the property and taken it back. This satisfies … (5 comments)
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