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Oregon Foreclosures Legal Questions

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1 legal question has been posted about foreclosures by real users in Oregon. Ask your question and dive into the knowledge of attorneys who handle your issue regularly. Similar topics to explore also include bankruptcy, commercial bankruptcy, and consumer bankruptcy. All topics and other states can be accessed in the dropdowns below.
Oregon Foreclosures Questions & Legal Answers
Do you have any Oregon Foreclosures questions and need some legal advice or guidance? Ask a Lawyer to get an answer or read through our 1 previously answered Oregon Foreclosures questions.
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Recent Legal Answers

What happens to a second mortgage when a first mortgage is foreclosed on?

Answered 14 years and 4 months ago by Ms. Pamela L. Stewart (Unclaimed Profile)   |   2 Answers   |  Legal Topics: Foreclosures
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The debtor is, more than likely, still liable for the debt owed on the second mortgage. If the second mortgage was a non-recourse loan, then the second lien holder cannot pursue the debtor to pay the balance owed on the second. Home equity loans in Texas are non-recourse. However, if the loan is a recourse loan, you would still be liable for the second lien. You need to determine how much the home sold for in the foreclosure sale to determine if there were any proceeds from the sale that went to the second lien holder.... Read Answer
The debtor is, more than likely, still liable for the debt owed on the second mortgage. If the second mortgage was a non-recourse loan, then the... Read Answer

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