Know how Oregon foreclosure laws will affect you

Laws on foreclosure vary considerably by state so you should be familiar with at least a summary of foreclosure laws in Oregon. You should also read your loan documents to know what your lender can do if you can't make your payments.

I recommend: ForeclosureS.com provides the contact information for the Attorney General’s Office in Oregon and links to specific legislation regarding foreclosure in Oregon. Foreclosurelaw.org offers a summary of Oregon foreclosure laws and a glossary of common foreclosure terminology.

Get Oregon commercial foreclosure help

There are housing counselors and online resources available to help you understand your options, assist you in organizing your finances and negotiate with your lender if needed.

I recommend: Consumer Credit Counseling Service offers an online tutorial through its CredabilityU website to help you keep your home, as well as many other financial tips. The Homeownership Preservation Foundation offers a hotline that provides free foreclosure prevention counseling by HUD-approved agencies.

Retain one of the many Oregon foreclosure attorneys

You may need one of the available Oregon foreclosure lawyers to resolve an Oregon foreclosure dispute, especially if you need to sign documents. If your regular attorney does not handle Oregon foreclosure law, he or she may be able to make a referral.

I recommend: David B. Schumacher has Portland, Oregon, foreclosure experts on staff. Stark and Hammack practice general business law with an emphasis in real estate for clients in southern Oregon.

Watch out for mortgage recovery scams

The Federal Trade Commission warns that there are plenty of bad guys operating in the foreclosure recovery business who will take your money and provide no service. Some warning signs, according to the FTC: advertising terms like "guarantee" and "97% success rate", upfront fees before services and company names or websites designed to make you think you're dealing with a government or nonprofit agency.

I recommend: Educate yourself about foreclosure recovery scams through the Federal Trade Commission.  The FTC recommends you only seek foreclosure help from government sanctioned counseling agencies like the ones recommended by the U.S. Department of Housing and Urban Development or the federal Making Home Affordable program.