1. Copy of the RECORDED Deed of Trust
2. Copy of the Note
3. Copy of the RECORDED Assignments, if applicable
4. Breakdown of Arrearages, i.e. date delinquency started, monthly payments, monthly late charges, any other costs that may have been paid, i.e. taxes, insurance, property inspections, etc.

A trust deed may be foreclosed by private sale or by judicial foreclosure in Oregon. Because it's more expeditious, private sale is the normal method of foreclosure. Generally, a mortgage, as opposed to a deed of trust, must be judicially foreclosed.

A private trustee's sale usually begins with this law firm being designated as trustee. Based on a foreclosure report from a title company, all interested parties are notified of the sale by publication, recording in the real estate records, and by mailing (an exception to this is the property's occupant(s), who must be served personally).

The method of notice is a written notice of trustee's sale, which must also contain a statement of the reasons for the foreclosure and that the interested parties may reinstate the loan and thereby terminate the foreclosure.

A trustee's foreclosure sale is held at a convenient place in the county where the property is located. It cannot be held earlier than one hundred days after the notice of sale is mailed. At any time up to and including five days before sale, any interested party may reinstate the loan by paying all delinquent payments and all costs incurred, including attorney's fees.

The trustee foreclosure sale may be continued up to one hundred eighty days. After a trustee sale, there is no right of redemption (except as may be provided by Federal law [e.g. IRS liens]. After judicial foreclosure sales an owner has a six-month redemption period and junior lien holders have a sixty-day redemption period.

Generally, deficiencies are not permitted in Oregon. The exception to this are what are defined as non-residential judicial foreclosures. A non-residential judicial foreclosure involves property upon which are situated more than four residential units or upon which there are four or fewer residential units, none of which are occupied by the trust deed's grantor or the grantors, spouse, or one of the grantor's dependent children.

* Last postponed sale cannot be more than 180 days after original sale date.
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Important Notice
Kleinsmith & Associates, P.C. operates within Fannie Mae fee schedules and timelines and will provide the same coverage as a “FNMA Network Certified” law firm. Should any loss or damage occur as a result of a mistake by our firm during the foreclosure process, which we cannot rectify, Kleinsmith & Associates, P.C. will indemnify the servicer against any loss or damage.