FORECLOSURE STATE OF OREGON

OREGON REVISED STATUTES, ORS 86.735:

1959, c. 625, Sections 4, 5;

1965, c. 457, Section 2;

1983, c. 719, Section 3;

1985, c. 817, Section 2;

1989, c. 190, Section 2;


TITLE 9, MORTGAGES AND LIENS, Chapter 86.  Mortgages; Trust Deeds

86A.  Mortgage Lending
87.   Statutory Liens
88.   Foreclosure of Mortgages and Other Liens

Chapter 86 — Mortgages; Trust Deeds, ORS sections in this chapter were amended or repealed by the Legislative Assembly during its 2012 regular session. See the table of ORS sections amended or repealed during the 2012 regular session: 2012 A&R Tables, New sections of law were added by legislative action to this ORS chapter or to a series within this ORS chapter by the Legislative Assembly during its 2012 regular session. See sections in the following 2012 Oregon Laws chapters: 2012 Session Laws 0112,

2011 EDITION

MORTGAGES; TRUST DEEDS
MORTGAGES AND LIENS
REAL PROPERTY MORTGAGES

86.735  Foreclosure by advertisement and sale

    The trustee may foreclose a trust deed by advertisement and sale in the manner provided in ORS 86.740 to 86.755 ...

86.753 Discontinuance of foreclosure proceedings after cure of default. (1) Where a trustee has commenced foreclosure of a trust deed by advertisement and sale, the grantor, the grantor’s successor in interest to all or any part of the trust property, any beneficiary under a subordinate trust deed, or any person having a subordinate lien or encumbrance of record on the property, may cure the default or defaults at any time prior to five days before the date last set for the sale. If the default consists of a failure to pay, when due, sums secured by the trust deed, the default may be cured by paying the entire amount due at the time of cure under the terms of the obligation, other than such portion as would not then be due had no default occurred. Any other default of the trust deed obligation that is capable of being cured may be cured by tendering the performance required under the obligation or trust deed ...

    .. (3)   .. notice of default ... to sell the property to satisfy the obligation ...

    .. (4)   .. No action has been instituted to recover the debt or any part of it ...

    .. (b)    An action may be commenced for the judicial or nonjudicial foreclosure of the same trust deed as to any other property covered thereby, or any other trust deeds, mortgages, security agreements or other consensual or nonconsensual security interests or liens securing repayment of the debt. [1959 c.625 §§4,5; 1965 c.457 §2; 1983 c.719 §3; 1985 c.817 §2; 1989 c.190 §2]

ORS Chapter 86 - Mortgages, Trust Deeds - Oregon State Legislature<click<link<here 

See sections in the following 2012 Oregon Laws chapters: 2012 Session Laws 0112. 2011 EDITION. MORTGAGES; TRUST DEEDS. MORTGAGES AND LIENS