ORS 88.100
Payment of amount due before foreclosure sale

  • judgment for payment of installment not due
If, before a judgment is given, the amount then due with the costs of suit is brought into court and paid to the clerk, the suit shall be dismissed. If the same is done after judgment and before sale, the effect of the judgment as to the amount then due and paid shall be terminated, and the execution, if any has issued, shall be recalled by the clerk. When an installment not due is adjudged to be paid, the court shall determine and specify in the judgment what sum shall be received in satisfaction thereof, which sum may be equal to such installment, or otherwise, according to the present value thereof. [Amended by 2003 c.576 §352]

Source: Section 88.100 — Payment of amount due before foreclosure sale; judgment for payment of installment not due, https://www.­oregonlegislature.­gov/bills_laws/ors/ors088.­html.

Notes of Decisions

The vendor’s long-standing practice of accepting late payments precluded him from declaring the entire balance due and requesting strict foreclosure without first giving notice of his decision to do so and a reasonable opportunity to cure any default in the payments. Fisher v. Tiffin, 275 Or 437, 551 P2d 1061 (1976)

Where debtors brought action against lender under Agricultural Credit Act, and Act provided implied right of action for debtors to enforce right to restructure debts, lender violated Act by continuing state court foreclosure action without weighing costs of foreclosure against costs of restructuring and creditors were enjoined from evicting debtors from their property. Harper v. Federal Land Bank of Spokane, 692 F Supp 1244 (D. Or. 1988)

Ability of junior lienor to equitably redeem property prior to foreclosure sale is not dependent on junior lienor appearing in foreclosure proceeding. Federal Home Loan Mortgage Corp. v. Bauer, 151 Or App 591, 950 P2d 399 (1997), Sup Ct review denied

Junior lienor’s equitable redemption of property prior to foreclosure sale terminates foreclosure decree and revives all outstanding liens on property. Federal Home Loan Mortgage Corp. v. Bauer, 151 Or App 591, 950 P2d 399 (1997), Sup Ct review denied

Green check means up to date. Up to date

Current through early 2024

§ 88.100’s source at oregon​.gov