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Foreclosure
For some, it is a word that conveys the fear and dread of financial ruin, while for others it infers a positive economic opportunity. Regardless of the perspective, it is possibly the most misunderstood aspect of any real estate market.
Buying Foreclosures
Buying directly from the bank is preferred by many because it is a more methodical, predictable and non-emotional process than buying from the distressed seller.
Not all REOs are good deals. Many banks want market value in order to recoup as much of their losses as possible. Others are more concerned with liquidating their REO inventory as these non-performing assets have a negative impact on their books. We have relationships with asset managers and REO officers, so knowing which lenders are motivated sellers and which properties represent a bargain is where we come in.
If you’re an investor or buyer looking for lender owned value-priced properties, fill out the contact form on the right or give us a call at 503-343-5825.
Facing Foreclosure
If you are an owner of Oregon real estate that would like to know what options you may have in avoiding foreclosure or walking away from the mortgage, fill out the contact form on the right or contact us at 503-343-5825 to schedule a confidential consultation.
The foreclosure process begins when the lender files a Notice of Default, or NOD, with the County Recorder once a borrower defaults on their loan. The process ends when:
Within the grace period determined by state law (pre-foreclosure), the borrower pays the default amount and reinstates the loan, or
The property is sold during the pre-foreclosure time period, allowing the borrower to pay off the loan. A situation where the loan is greater than the sale amount, but the lender agrees to a loan payoff that is less than what is owed is referred to as a short sale or short pay.
At the end of the pre-foreclosure period, a trustee sale occurs and the property is sold at a public auction to a third party, or
The lender takes ownership of the property through an agreement with the borrower during the pre-foreclosure time period or buys the property at the trustee sale. The bank-owned property is referred to as real estate owned or REO.
All Foreclosures in the Oregon
Great floorplan: Living room is in the front of the house which transitions into the dining room. The dining room is adjacent to the kitchen and very large family room. ...
- 3 Beds
- 2 Baths
- 21120949 MLS
UP THE N BANK OF THE CHETCO RIVER, OUT OF COASTAL FOG! Views of Mt Emily & Valley! Warm & sunny, private, gated 5.37 acre hillside land, nestled in trees with ample flat ...
- 21498630 MLS
Great opportunity! Best value in Parkview at Vancouvercenter! HUD owned unit with view of the courtyard. Secure building with charming lobby. 2 bedroom/2 bath unit. Kitc...
- 2 Beds
- 2 Baths
- 21184850 MLS
Endless possibilities with this Sellwood/East Moreland Fixer! This property has the potential to be the star of the neighborhood! The oversized lot, Fenced backyard, Att...
- 2 Beds
- 1 Baths
- 21209771 MLS
OFFERS due Tues 5/11 by 5pm. Spacious English Fixer ready to be reborn. Two bedrooms on the main, one bedroom and two bonus rooms up. Partially finished basement with bed...
- 4 Beds
- 2 Baths
- 21093226 MLS
Attn: Agent to make sure sentrikey app is open before heading to property. 2.36 acre lot in the foothills of the Oregon Coast Range! Perfectly secluded but just a 15 minu...
- 3 Beds
- 2 Baths
- 21699793 MLS
Built in 1910, this multi family residence features two units. Unit one consists of 1 bedrooms and one bath with approximately 1,104 square footage of living space. Unit ...
- 21635676 MLS
Excellent business location. High traffic demand. Free standing building with on site parking. Well established Asian restaurant for over 10 years. 70 seats in dining roo...
- 21393116 MLS
Complex is located in low traffic area just North of Vancouver Mall. This 2 bdrm, 1.1 bathrm condo has kitchen/dining area, living rm, utility rm and half bathroom on the...
- 2 Beds
- 1.1 Baths
- 21601715 MLS
Craftsman which city considers a Triplex on tax records, buyer to conduct due diligence. Modern updates, maintaining original craftsman woodwork & built-in details. Graci...
- 7 Beds
- 4 Baths
- 21441761 MLS
Craftsman which city considers a Triplex on tax records, buyer to conduct due diligence. Modern updates, maintaining original craftsman woodwork & built-in details. Graci...
- 21412476 MLS
Purchase via online auction (date TBD) and save $$$! Spacious two story home in popular Union High School District. Features include 2718 square feet, 3+ bedrooms, 2.1 ba...
- 3 Beds
- 2.1 Baths
- 21411085 MLS
LIVING IS EASY ON THE LAKE! Cozy up to the gas fireplace, feel your cares slip away with vistas of 50-acre Staats Lake & the ever-changing sky, or take 1.25 mile walk aro...
- 2 Beds
- 1.1 Baths
- 21044668 MLS
Nice location, less than 1 hour from Mt Hood Meadows. Newer home located at end of the street. Master on main with direct access to back patio/yard. If the listing is act...
- 3 Beds
- 2.1 Baths
- 21216965 MLS
Beautiful top floor unit in the historic Ball Parc American Condominiums is a must see! Located in the Nob Hill district. Interior features built-ins, french doors into b...
- 1 Beds
- 1 Baths
- 20507525 MLS
North Columbia county, top of the hill property! The land will afford many trees and be potentially a nice view property, too. The cabin is not habitable at this time, bu...
- 1 Beds
- 1 Baths
- 20524747 MLS
Successful drive thru coffee business operating from 2016 to the stay at home order. Owners love the business but are ready to retire. Sale includes land, building, signa...
- 20357568 MLS
Moby Dick's Tavern located on Busy Hwy 101 in the Heart of Newport! This Unique Space Offers a Large Bar Area with Tons of Seating, a Dance Floor, Restrooms, and Separate...
- 20176080 MLS
Fabulous Bay & Ocean views from this upscale gated development. All underground utilities installed, paved streets, public sewer and water ready to connect to. Build your...
- 20482529 MLS
Ocean Beach Highway with a traffic count of 13,000 cars per day. Consists of two parcels. Entrance off of Ocean Beach Highway and/or possibly off of 46th for multi-family...
- 20628793 MLS
3 bedroom, 2 bath home with a 2-car attached garage situated on a 0.18 acre lot.
- 3 Beds
- 2 Baths
- 20515515 MLS
Stunning views on this ready to build lot in Skyline Terrace. Build your dream home. Utilities are available and ready to be connected.
- 19076281 MLS
The content relating to real estate for sale on this site comes in part from the IDX program of the RMLS of Portland, Oregon. Real Estate listings held by brokerage firms other than this firm are marked with the RMLS logo, and detailed information about these properties include the name of the listing's broker. Listing content is copyright © 2021 RMLS of Portland, Oregon. All information provided is deemed reliable but is not guaranteed and should be independently verified. This content last updated on . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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