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I live in California and I own a rental home in Redmond Oregon. I still have the
first loan on the property, an option ARM. The property is under water and I may
need to short sale or foreclose soon. I reviewed my loan papers and I am not able
to determine if the loan is non-recourse or not. I checked various on line sites and I found conflicting information. I also check the Oregon http://www.leg.state.or.us/ors/088.html web site. But I'm still confused. In short, is Oregon a non
judicial / non-recourse state? Can the loan company go after me on the balance not covered by selling the home for less than the loan amount? Thank you for your help!
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