My Blog

Short Sales: Liability, Taxes, and Bankruptcy, Oh, My!

A short sale is a transaction in which the sales price is insufficient to pay the existing mortgage(s) on the property, but the seller is unable to pay the difference.  The lender considering a short sale will want a hardship letter or explanation of the seller’s circumstances. These could include medical problems, divorce, or loss of a job. Financial information including bank statements,...

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Quiet Title Actions

Shhh … Quiet Title Suits to “quiet title” to real property have had a statutory basis in Oregon since 1862. Suits to quiet title are sometimes referred to as suits to remove a cloud on title. Although Oregon is famous for overcast skies, the cloud referred to here is any doubt or uncertainty as to the validity of the plaintiff’s title. Cases describe a cloud on title as a lien, claim, or...

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MERS TKO in Oregon?

Several recent decisions by federal judges in Oregon have sent the Mortgage Electronic Registration Systems (MERS) to the mat, bringing foreclosures to a halt.  MERS was created in 1993 to electronically track assignments of mortgages without publicly recording those assignments in the County real property records.  Lenders thereby keep the promissory notes and servicing rights and sell their...

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The Wisdom of Big Bird

“Everybody makes mistakes!”  That’s what we said at my house when the kids were young and somebody spilled the milk or dropped a dish.  It took away the sting of shame and guilt from the person who caused the “accident.”  The quote was taken from Big Bird on Sesame Street. I was talking to a Medford lawyer last week after finally completing the settlement of a hard fought foreclosure...

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