In Oregon, can the bank evict the homeowner during the redemption period after the sale using a judicial foreclosure process?

Asked almost 2 years ago - Grants Pass, OR

The property was foreclosed and sold back to the bank using a judicial foreclosure process. The bank's legal representative is asking me to vacate 10 days after the sale, stating, "The purchaser seeks to recover possession of the property in good faith to market and sell." -What about the redemption period. I have the right to purchase my property back 180 days after the Sheriff's sale. Can the bank kick me out, or do I have the right to stay in my house during the redemption period???

Attorney answers (1)

  1. Thomas A McAvity

    Pro

    Contributor Level 14

    2

    Lawyers agree

    Answered . Redemption is not going to help you with the right to occupancy. You can stay on the property until they complete the post-foreclosure FED. The Bank will likely file one soon but the process should take an additional 30 days or more for them to kick you out. You may be able to arrange a cash for keys deal if you get out earlier.

    Please consult an attorney who is licensed in your state to evaluate your case if you have any questions at all.... more

Related Topics

Property foreclosure

If you miss too many mortgage payments, your lender can start foreclosure proceedings to take ownership of the property, but it has to follow your state's laws.

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