Posted by DanM(OR) on March 09, 2000 at 12:39:23:
together. I just recently discovered that the CCounty Clerks records are online also and that I can search for Notice of Defaults to. They are filed here 4 months prior to sale and are actually filed about three months before the notice of sale hits the papers.
For anyone else out there in Oregon I also research Foreclosure law and found out that:
– Right of redemption for TDs is 30 days and for mortgages it is 1 year.
Could you detail a little about your strategy here. It’s new to me and I am just putting mine together.
Currently, my strategy is twofold. I will send out letters to the payors stating that I buy houes and may be able to help them out of their “problem real estate”.
I also thought I would look up which of the NODs filed (84 since December 1,1999) were held by private parties and talk to them about selling me their note. Then I would go through the technique you use to pull them out of it.
Would you also contact the trustees who are foreclosing for the institutional note holders?
Could you also describe a little about the “Substitution of Trustee”, its new to me. Is that typical of what happens in most states?
As always, thank you for all that you do for us here!
P.S. I signed a contract last night on a note deal. I have another in the works.