Legal Question in Real Estate Law in Oregon

Re: Mortage

At some point, your lender will foreclose on your house and you will have to move.

Before that happens, you need to contact your lender and see if there is any way for you to keep your house.

Lenders today are becoming more flexible in creating ways for borrowers to keep their homes, sometimes by extending the length of the loan or by adding missed payments on to the end, some are even reducing interest rates or creating fixed interest rates on variable rate loans.

Re: Mortage

Lender will go into foreclosure, i.e., legal proceedings for repossession (taking away of the right to redeem his property). Your meeting with your financer may result in relaxing the terms of repayment even reduction in interest rate and/or extending repayment schedule.