tag:blogger.com,1999:blog-4299570281826343135.post1339153778799703748..comments2021-10-08T22:08:31.117-07:00Comments on Oregon Foreclosure Law and News: Dealing with Foreclosure in Oregon, Part 5Lawyer Benhttp://www.blogger.com/profile/17793928483995931696noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-4299570281826343135.post-57421552506694872282012-07-25T13:32:47.724-07:002012-07-25T13:32:47.724-07:00Dear Szhng:
Your questions involve interpreting O...Dear Szhng:<br /><br />Your questions involve interpreting Oregon law for mortgages (ORS 88) as well as the application under Oregon law for trust deeds (ORS 86). Because your questions involve a very specific scenario that may be more complicated than it appears, I cannot answer your questions without further investigation into all the facts involved. This blog is not an appropriate or safe way for me to give such specific legal advice. I recommend you contact me for private legal advice. My website, with contact information, is www.lawyerben.com. I am certain I can answer your questions once I know all the facts involved.<br /><br />Thanks,Lawyer Benhttps://www.blogger.com/profile/17793928483995931696noreply@blogger.comtag:blogger.com,1999:blog-4299570281826343135.post-75750716781791056402012-07-22T03:41:26.172-07:002012-07-22T03:41:26.172-07:00Dear Ben,
Does a seller finance consider a purchas...Dear Ben,<br />Does a seller finance consider a purchase money mortgage? here is what I read on ORS88.075 ORS88.075 When certain mortgage is considered a purchase money mortgage. A mortgage entered into after September 13, 1975, is a purchase money mortgage if the mortgage is given to a vendor to secure the unpaid balance of the purchase price of real property or if the mortgage is given to a lender or any other person to secure up to $50,000 of the unpaid balance of the purchase price of real property used by the purchaser as the primary or secondary single family residence of the purchaser. [1975 c.618 §6]<br /><br />So back to the issue, will there be deficiency judgment against the LLC? if the note are personal garrantee by its member? what will happen?<br /><br />Thanks!szhnghttps://www.blogger.com/profile/01385555571572771214noreply@blogger.comtag:blogger.com,1999:blog-4299570281826343135.post-70931916896251039902012-07-22T03:30:42.032-07:002012-07-22T03:30:42.032-07:00Dear Ben,
Thank you for the reply, on ORS § 86.7...Dear Ben, <br /><br />Thank you for the reply, on ORS § 86.770¹<br />Effect of sale<br />• • actions for deficiency<br />• • restrictions<br />(3) Notwithstanding ORS 88.070, in a judicial foreclosure of a trust deed that is <br />not a residential trust deed the judgment must provide that if the sale proceeds ...<br /><br />then i saw on ORS 88.070 saying no deficiency judgment for purchase money mortgage,<br />ORS 88.070 Decree foreclosing purchase money mortgage on real property. When a decree is given for the foreclosure of any mortgage given to secure payment of the balance of the purchase price of real property, the decree shall provide for the sale of the real property covered by such mortgage for the satisfaction of the decree given therein, but the mortgagee shall not be entitled to a deficiency judgment on account of the mortgage or note or obligation secured by the same.<br /><br />So does that mean there's no deficiency judgment in this case? depend on if this is a mortgage or a deed of trust? what if one of the LLC member move into to the rental before the LLC is being served?<br /><br />Thanksszhnghttps://www.blogger.com/profile/01385555571572771214noreply@blogger.comtag:blogger.com,1999:blog-4299570281826343135.post-20298701992613834802012-07-11T16:35:18.210-07:002012-07-11T16:35:18.210-07:00Dear Szhng:
A private seller can seek a deficie...Dear Szhng: <br /><br />A private seller can seek a deficiency judgment by going through the judicial foreclosure process IF the property is not "residential" property as defined by ORS 86.705.Lawyer Benhttps://www.blogger.com/profile/17793928483995931696noreply@blogger.comtag:blogger.com,1999:blog-4299570281826343135.post-6212110534069653752012-07-11T16:30:22.112-07:002012-07-11T16:30:22.112-07:00Dear Interplanet Janet:
Yes, the homeowners assoc...Dear Interplanet Janet:<br /><br />Yes, the homeowners association can file a personal lawsuit against the former owner for unpaid dues and assessments that became due before the foreclosure sale was complete, even if they never filed a lien against the property. Oregon law gives homeowners associations the power to hold owners personally liable for dues and assessments.Lawyer Benhttps://www.blogger.com/profile/17793928483995931696noreply@blogger.comtag:blogger.com,1999:blog-4299570281826343135.post-42606741802982990322012-07-11T14:37:21.751-07:002012-07-11T14:37:21.751-07:00Please Help! Can a private seller seek deficiency ...Please Help! Can a private seller seek deficiency judgement on a seller finance deed of trust in a judicial foreclosure rental owned under LLC . Thank you in advanced!szhnghttps://www.blogger.com/profile/01385555571572771214noreply@blogger.comtag:blogger.com,1999:blog-4299570281826343135.post-26330773469423706362011-06-21T14:36:53.469-07:002011-06-21T14:36:53.469-07:00Ben - what if the home was foreclosed upon, howeve...Ben - what if the home was foreclosed upon, however, the homeowners association never filed a lien against the property, then the property was resold, and now the homeowners association is bringing a lawsuit against the former original owner for dues? Is that common? Thank you!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4299570281826343135.post-75189896924587220972011-03-19T04:51:58.240-07:002011-03-19T04:51:58.240-07:00Thank you for sharing the information regarding fo...Thank you for sharing the information regarding foreclosures. Not everyone can be helped in the way they want but the goal is to avoid foreclosure. Foreclosures solutions and short sales offer ways and help in order to keep your home.<br /><br />KL - Realtor<br /><br />http://www.krislindahl.com/<br />(763)795-1824Freelancer On Fly - Charlothttps://www.blogger.com/profile/17512181744844696253noreply@blogger.com