Featuring an expansive range of Oregon home foreclosures for sale, an array of bargain repo homes and foreclosures are available on all our Oregon foreclosure listings, with frequent updates on the latest properties and deals suitable for any potential homeowner. The housing market indicates positive figures, establishing trends that set to continue in the future.
Search through the best listings of foreclosures in Oregon. We provide foreclosed homes and auctions in the major Oregon cities. Choose a city and fing an excellent deal for you!
In Oregon the New House Leader is Keen to Focus on Foreclosures - Oct 03, 2011
Foreclosure Troubles Threatening as the Stimulus Programme of the Federal Government - Sep 30, 2011
Paralyzed Homeowner Battles Foreclosure - Sep 28, 2011
Idaho Foreclosures are Available for Those Looking for That First Home in a Great Area for Families - Jul 11, 2011
Missouri Foreclosures are Moving Up in Price but Still Can Be an Attractive Purchase - Jun 14, 2011
» See all recent news
It was in 1845 that Portland received its name. Before this, the area was simply known as “the clearing.” ...
Oregon is found in the upper western region of North America, with a population of over 3.8 million and a landmass of approximately 98,381 square miles. The state's capital city is Salem, with Portland being Oregon's largest city; other important cities include Hillsboro, Eugene, Gresham and Beaverton. Portland's demographic comprises of largely married couples owning homes, with a percentile rate of over 46 percent. The median annual income for households averages at just over 40,000 in Portland, with nearly a quarter of homes having children; making the city a prospective area for new families looking for Oregon home foreclosures.
Oregon's geographic state is split up into several regions, many of which contain a large area of forest; Oregon is responsible for a large portion in the production of lumber throughout North America. The Coast Range runs across the border of the Pacific Ocean, with an array of mountains and twin peaks permeating across the landscape. The Columbia Plateau contains large portions of wheat farms around the area, which are situated in between the rugged mountain ranges, with some reaching a height of over 5,000 ft above sea level. The Willamette Lowlands are located in the east coast region of the state, which sits next to the Willamette River; this river interconnects with the Columbia River as well.
Oregon's economical growth is largely attributed to its manufacturing industry, with the processing of lumber being a dominant force throughout North America. Other important sectors include the production of electronic equipment, such as external peripheral equipment, calculators, computer chips and parts for printers. The state's agriculture industry garners its profits from the production of greenhouse plants, along with crops such as hay, wheat, onions and ryegrass. The mining industry's most important materials are sand and gravel, which are used for the maintenance of roads; this generates the majority of the industry's income.
The current housing market provides optimistic statistics for those looking towards Oregon foreclosures. Portland's listing prices average at around $239,000, which is a percentile drop of 8 percent compared to last year. Foreclosure re-sales are experiencing an increase, with nearly 24 percent of overall household sales being attributed to foreclosures.
The state of Oregon allows both judicial and non-judicial foreclosures. A non-judicial foreclosure may be pursued if the mortgage in question contains a Power of Sale clause allowing the lender to foreclose against a defaulted borrower (homeowner) without obtaining a court order.
In any other scenario, a judicial foreclosure must be used. In this case, the lender files a suit (known as a Lis Pendens) against the homeowner for any default of a mortgage loan. If the court finds the default did occur, or the homeowner does not protest the suit at all, the court may rule against them and put the property up for sale. Since Power of Sale clauses are very common in Oregon, judicial foreclosures are rather rare.
For a non-judicial foreclosure in Oregon, the lender must register a Notice of Default with the county and schedules a sale for no less than four months after the homeowner is served with the Notice of Default. The homeowner has the power to halt the foreclosure by paying off the default debt owed and any additional costs up to five days before the sale is to occur.
A Notice of Sale must be published in a local weekly newspaper for at least four weeks prior to the sale. The sale must take place between 9 a.m. and 4 p.m. on the site of the property in question. The sale may be rescheduled for up to 180 days from the original date without restarting the foreclosure process.
At the sale the property is auctioned off to the highest bidder, who must pay the full amount of his bid in cash at the time of the sale. The trustee of the sale (auctioneer) then transfers ownership of the property to the winning bidder in no more than ten days. Unless a judicial foreclosure stipulates differently, in no scenario is the original homeowner allowed a right to redemption once the sale is complete.
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