Oregon Foreclosures

Understanding Oregon Foreclosure Laws and the Basics of Oregon Foreclosure Investing

Whenever the power of sale clause governs over the sale of foreclosed homes in Oregon, the deployment of non-Judicial Foreclosure provisions are also employed. The power of Sale refers to the provisions involved in the borrower's agreement that constitutes selling the foreclosed homes to eradicate the unpaid bills for the Oregon homes mortgage in the event of non-payment.

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On the other hand, the provisions involved in the event of distressed and foreclosed Oregon properties being sold while the power of sale clause is non-existent superimpose judiciary foreclosure processes. This means that the lenders should strike up a lawsuit against the borrowers in order to acquire a court foreclosure order applicable to the Oregon property in question. In the event of the court handing down a functional foreclosure order on such distressed Oregon properties, it will be auctioned, and the highest bidders will be subsequently awarded with the foreclosed Oregon properties. But the borrowers just need to pay the current market price on top of the interests incurred from their non-payment of the mortgaged Oregon properties together with the maintenance or operational expenses and the actual foreclosure fees in order to recover the mortgaged Oregon properties. But borrowers must be advised that they need to hand out such payments well within a span of 180 days right after the foreclosed Oregon properties were won by the highest bidders.

Oregon Foreclosures

Basics of Investing in Foreclosed Oregon Properties

Investing in foreclosed Oregon properties can help you make lots of money regardless of the limited demand for such foreclosed properties. This is because you make purchases on a large-scale manner that gives you the chance to create equally large sales opportunities. For instance, you can buy a foreclosed Oregon property since you plan to sell it on a latter date. Of course, you need to invest some of your time and money since you need to renovate the foreclosed property and market it at a price that is highly viable to both you and potential buyers.

But you obviously need to get a comprehensive list of the most inexpensive and legally foreclosed Oregon properties in order to bolster the overall profitability of your planned Oregon foreclosure investing ventures. You should also acquire such a list of inexpensive foreclosed Oregon properties that is populated by high quality properties with viable current and prospective market prices. This will evidently allow you to gain additional value from the foreclosed Oregon properties after making the necessary improvements on the foreclosed Oregon properties you have purchased. In addition, subsequently implementing a set of cost-effective marketing strategies will help you sell the foreclosed Oregon property to the highest bidder in the shortest possible time. Thus, obtaining a regularly updated list of high value foreclosed Oregon properties from a credible source will be the key to the success of your Oregon foreclosure investing ventures.

Oregon Foreclosures

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20 Percent of Silicon Valley Homes Are Nearing Foreclosure As Home Values Drop at Record Pace

For the last 12 years, it is only in the last quarter of 2008 that metropolitan home values in San Jose, California have dropped sharply, thanks to the economic recession and a deteriorating stock market. Almost one in every five homeowners in the area is submerged "underwater" with mortgage dues that are more than the value of their homes, and will most likely give in to foreclosing their homes.

According to Zillow.com, a housing valuation company, San Jose home values dropped 17.2 percent in the last three months of the previous year to an approximated mean value of 7,360. This was the most severe decline since the year 1996, and the most depleted median value ever since the first four months of 2004.

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All homes in the San Jose metropolitan area including the Santa Clara County have lost a net value of .8 billion in 2008. Majority of that loss which comprised billion happened in the last three months when the brutality of the economic recession was becoming more evident with almost every passing week.

20 Percent of Silicon Valley Homes Are Nearing Foreclosure As Home Values Drop at Record Pace

Moreover, the housing valuation company states that 44 percent of all homes bought last year in the county were sold at a deficit to the homeowner. That amount consists of both short sale transactions and foreclosures. The former happens when owners sell their homes for a smaller price compared to their debt to their mortgage lenders.

On the brighter side of things, there is a glimmer of hope for both the local and state economies as some people have recently been purchasing foreclosure properties with low prices. A report last week by the California Association of Realtors indicated that home sales increased by 85 percent in California last December 2008, compared with December of 2007. The trade group also added that sales were also up by 12 percent in the Santa Clara County. People can now afford to buy foreclosure properties thanks to the low purchase costs and low interest rates.

Still, several Santa Clara County areas had alarming home value declines, but only slight in other areas. For example, the median value of homes in Gilroy fell to 38 percent from the last quarter in 2007. But in the 94924 ZIP code of Los Altos, home values just fell by 5.4 percent. Moreover, the 94301 ZIP code of Palo Alto was the only area in the county to have a higher median value of 5.2 percent.

The prevalent drop in values has left a 19.4 percent negative equity to all homeowners in the last three months. According to Zillow.com, this means that the remainder of their mortgage loans has surpassed their home's market value.

But results still vary from area to area. For example, only an estimated 3 percent of homeowners hold a negative equity in Cupertino. In Campbell however, the number was 16 percent. But when it came to the East Side 95111 ZIP code of San Jose which was badly hit by foreclosures, homeowners who were "underwater" because of their loans comprised 38 percent.

The last three months were especially difficult on home values in most cities all over the nation particularly the ex-boom towns in Arizona, California and Nevada. Still, according to the Zillow.com's Vice-President of Data and Analytics Stan Humphries, Portland, Oregon and Seattle managed worse for the first time compared to the national trend last quarter.

20 Percent of Silicon Valley Homes Are Nearing Foreclosure As Home Values Drop at Record Pace

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When "Fair Value" Is Not Fair

The recent Oregon Court of Appeals case, Marker v. Marker, is a fine example of a case that could have had a different result with proper planning. The facts are simple and common: A father and son organized a trucking company in 1982. Father owned 52 percent of the shares and Son owned 48 percent, meaning that Father essentially controlled the company. Both are employees. Over time, disputes arose between Father and Son and in 2006 Father fired Son. Son continued as a shareholder but Father stopped sharing any corporation information with Son. There is no indication that a buy-sell agreement between Father and Son existed.

Son sued Father alleging among other things that Father engaged in oppressive conduct. The trial court found that Father's behavior was oppressive and as a remedy ordered Father to purchase Son's shares at their "fair value" - a term not to be confused with "fair market value".

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The court enlisted the services of an appraiser to determine the shares "fair value". The appraiser determined that the "fair market value" of Son's 48 percent ownership interest was ,000.00 after applying applicable discounts (minority ownership discounts and lack of marketability discounts). However, the appraiser determined that under Oregon law, the "fair value" standard did not allow for discounts making the "fair value" of the shares 4,000.00. The court ordered the company and Father to pay this amount within 20 days from the date of entry of the judgment.

When "Fair Value" Is Not Fair

The court of appeals did not dispute the valuation since ORS 60.952(a)(A) provided that the proper valuation formula for the court to use when it orders the sale of stock is the "fair value" formula without applying any discounts. In Marker and in the case of most small companies the difference between fair value and fair market value is great and a compelled sale of the stock at "fair value" could potentially cripple, if not destroy, a small business. Consequently, most companies would like to avoid these results if at all possible.

The use of a buy-sell agreement (also known as a restrictive stock agreement) is one way that shareholders can limit the application of ORS 60.952 and its potentially crippling results. ORS 60.952(3) provides that the remedies provided in ORS 60.952 can be limited by an agreement entered into by the shareholders. Consequently shareholders can agree to a valuation formula different from the "fair value" formula and can also limit the circumstances in which a court can force the sale of stock. It can also provide circumstances that require the sale of stock, but provide for the proper valuation of that stock.

A buy-sell agreement is an agreement between shareholders that controls a shareholder's ability to voluntarily and involuntarily transfer shares of stock in the company and provides for circumstances that, if they occur, would compel the Company or shareholders to purchase another shareholders' shares of stock. It can limit a shareholder's ability to sell or gift shares and can compel the sale of shares when a shareholder dies, retires, gets divorced, files bankruptcy or has their employment terminated.

The agreement also provides a valuation formula which may be different depending on the event that occurs that compels the sale of stock. For example, the agreement can provide that upon a shareholder's death, the deceased shareholder's estate must sell any shares owned by the deceased shareholder to the company or the living shareholders. The value can be the fair market value of the shares at the time of death, their fair value, or their book value. The shareholders can determine whether discounts or premiums should be applied in determining value. Whether these discounts or premiums should be applied may depend on the circumstances. The shareholders may want a discount to apply upon a shareholder being fired but not when a shareholder dies or retires.

In the case of the Marker shareholders, they could have agreed that upon an employee's termination, the company or remaining shareholders were required to purchase the terminated shareholder's shares at the share's fair market value. By forcing the employee to sell his shares to the company or remaining shareholder, the company ensures that a disgruntled and disinterested shareholder is not involved with the company. If they agreed that the proper valuation formula was the fair market value with applicable discounts, the company and father would have saved over ,000.00 (not including attorney fees and costs incurred in the litigation).

An additional benefit of a properly drafted buy-sell agreement is that the agreement provides for an installment payment plan that allows the company and remaining shareholders to pay the ex-shareholder over time (such as a 10 percent down payment with the balance payable in monthly installments over the next 10 years). As a business owner, imagine having 20 days to produce 4,000.00 to pay your son.

In order to avoid the crippling results of Marker and ORS 60.952, companies with more than one shareholder need to have a buy-sell agreement in place. If you have an existing business and you do not have a buy-sell agreement, it's not too late to enter into a buy-sell agreement. Such an agreement can be entered into by the shareholders at any time.

©11/04/2010 by Kevin J. Tillson. All rights reserved.

When "Fair Value" Is Not Fair

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How to Determine the Worth of Your Personal Injury Accident Claim

What is my case worth?

What is a broken arm? How about a bursting disc which causes nerve pain down my arm for six months until the action is resolved? What happens if the operation does not work? Unfortunately there is no science to this. In fact, here is how crazy that our society what is a broken arm heritage: we are twelve people draw from their work and their families to sit on uncomfortable chairs in the courtroom, forcing them to listen to aBunch of witnesses tell their stories, then lock them in a room and not let them leave until they decided what it's worth, has a broken arm. Let a jury decide, may sound crazy, but has developed a system to be fair to all parties. And I can think of no better way to. You can?

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Since each study will have a different jury, it is impossible in any absolute, just to say a claim for personal injury "is worth it." Of course, no more than 95% of cases go before a jury. Wedecide how much value they would be trying to understand what a jury says. The lawyers we have with other "similar" cases look back to see what juries awarded and do our best estimate, we know every detail of the situation, the stories of medical records, any laws that apply to individuals and the people involved, the proof of fault for the accident, was at the limits of politics, and so on. If you pursue your case to decide what should be donethe same - that's why some people feel the need to hire a lawyer.

How to Determine the Worth of Your Personal Injury Accident Claim

But since, during a test, the value will be decided by twelve people, with all faults and prejudices people have, there are quite a bit 'more to take into account not only the damage to be taken. As to the jury as a lot '. They want the witnesses also play a role. And how much they like the person you meet. The judge has an enormous amount of discretion and the judgerulings can affect a trial. How good your doctors are at teaching a jury matters a lot. What the police report says matters. In fact, so very many things matter, that it's really not possible to figure out what a case is worth until an extensive investigation has been done. But of course, there are guidelines. Here's one: your case is probably worth less than you think, but more than the insurance adjuster is willing to pay. Even though a book cannot tell you what your specific case is worth, we can educate you about the different kinds of "damages."

Damages is a vague term that helps us encompass all possible types of compensatory monies an injury victim might receive from a claim. In Oregon, there are two basic kinds of damages you can recover for a personal injury case: "economic damages" and "noneconomic damages." These used to be called "general damages" and "special damages," and you will sometimes still hear lawyers use these words. But the proper terms are economic and noneconomic damages.

"Economic damages" is the compensation you can get for any money you have lost due to the collision. Examples include:

• Money to repair your car, or the full value of the car if it was totaled

• Money to pay for medical bills

• Lost income if you were not able to work because of your injuries

• Money to pay for household services like cleaning and childcare if you were not able to do these things because of your injuries

• Money to compensate for future economic losses

"Noneconomic damages" is often called "pain and suffering." Noneconomic damages cover such things as:

• Pain

• Humiliation

• Mental suffering

• Emotional distress

• Inconvenience

• Interference with normal activities

• Damage to a person's reputation

• Aggravation to a previous injury

There are also "punitive damages," which are meant purely to punish the wrongdoer. However, the State of Oregon takes 60% of any punitive damages. Then your lawyer will typically take 20%, leaving you with only 20%. This is then taxable, so you might end up with only about 10% of punitive damages. In the right case, it can make sense to try to get punitive damages, but most injured people are better off seeking only economic and noneconomic damages, which are usually not taxable in personal injury cases, under Internal Revenue Code.

NOTE: Bankruptcy If you are in bankruptcy, or might be soon, this can have an enormous effect on any recovery you may get from a personal injury case. If you are in bankruptcy, your claim does not belong to you; it belongs to your bankruptcy trustee. Generally, you can keep up to ,000. But the rest usually goes to your creditors. This is general information; there are plenty of exceptions, and negotiation is often possible. If you are in bankruptcy, it is essential that you tell your bankruptcy attorney or trustee about any possible personal injury claim. If you hide a personal injury claim from your bankruptcy trustee, you would be committing fraud. You could forfeit any money you win, your personal injury lawsuit could be thrown out of court, and you could even go to jail. A good bankruptcy attorney can refer you to a personal injury attorney, and vice versa, and the two can work together to find the best solutions for you, the client.

How to Determine the Worth of Your Personal Injury Accident Claim

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How to Dispute False Credit Reports After Bankruptcy

Bankruptcy is a fresh start for consumers. In a Chapter 7 bankruptcy, the Court can download some or all of the debts of the consumer. Consequently, the creditors to report the account to credit reporting agencies must change.

If the judge of the Bankruptcy Court issues its final goal to download a consumer debt is discharged accounts have the notation "included in bankruptcy." However, the account balance is zero,Improving a consumer's debt-income ratio. In addition, the account does not show other derogatory remarks, which is registered in the non-payment after the order of discharge. Deleting high balances to improve and derogatory remarks to a consumer credit score.

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Is displayed when this type of information on your credit report (also known as a ratio of consumption), you can create a written complaint to the credit reporting agencies. If a creditor continues reporting amounts owed or that the account is overBecause, the consumer may be able to bring a suit for damages under the Fair Credit Reporting Act. Here is a brief description of the process for disputing incorrect information on your credit report.

How to Dispute False Credit Reports After Bankruptcy

First Get a copy of your report for consumers. While it is possible that your credit report online for access to credit bureaus require some companies to give consumers important rights for their relationship to the consumer on their Web site access. Moreover, it can be confusing to navigate many links to purchaseServices that may not be necessary. A better way is to request it by mail.

Consumers have their free annual credit report by writing to the Service Annual Report on the credit application, PO Box 105 281, Atlanta, GA 30348-5281 investigation. The application form is on the annualcreditreport.com site.

According Submit a letter of objection in writing to the credit reporting agencies. Tell them that you filed for bankruptcy, and provide them with the number of bankruptcy court. List of specificationsAccounts and account numbers that have been released.

Send a letter by registered mail with return receipt. Keep a copy of the letter dated and signed, along with copies of attachments.

Read the third answer. If the credit bureaus to request more information, offer them. If reports are not always the recognition is correct, you should contact a lawyer consumer protection organization.

How to Dispute False Credit Reports After Bankruptcy

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Unfair Employment Practices Require a Lawyer's Help

In the United States and around the world, most of the city, where a phenomenal growth and rapidly expanding economies have only been 18 months now fallen into a recession. This means that millions of people were thrown out of work. In some cases, employees by union agreements that protect the sting of the loss to take the place of work. But in many other cases, workers are at the mercy of their employers. It often means leaving virtually no compensation.

This isAs the case in Portland, Oregon, as elsewhere in the United States, in fact, after years of steady growth, expanding employment and periodic increases in incomes and living standards, Portland has been drawn up in recession. In fact, the Portland metropolitan region - including places such as Tualatin, Hillsboro, Gresham, Beaverton and others - was one of the largest increases in unemployment in 2008 and 2009 throughout the country.

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That is,There are many people out of work in Portland and surrounding communities. And this inevitably leads to an increase in complaints of unfair dismissal or non-performance to meet the legal and contractual terms of termination.

Unfair Employment Practices Require a Lawyer's Help

It 's sad but true that when times are tough, many companies will end up treating people in what people actually perceive as unjust. However, if you find yourself in this situation, you should be aware that there are proper laws in forceto help your from this treatment. It may be best explained by a Portland lawyer.

Even in normal times there are different types of maltreatment are likely to be exposed in a workplace. Some common concerns include audit problems, poor work ethics, wrongful dismissal and unfair dismissal. Then, take some of the most serious, the judge, including sexual harassment, workplace violence and bullying can. In addition, salary disputescan be a form of discrimination if a person simply to pay less because of the color of their skin or gender.

Note that you are not alone in this battle for a fair shake, contact your employer. There are many others in Portland, where the same thing, so it is important to trace the problem to the right people in the shortest possible time. It takes courage to come forward, because your company has far more resources than you, and to some extent, control theRules. For this reason, it is advisable to seek the advice of a professional lawyer you are looking for and your case.

How do you feel, they begin to deteriorate the situation in the workplace, you should take steps to protect themselves. Note the date, time and description of the disturbing effects as they occur, since these records can be of great help later, if your case is in court. Keep a diary to keep meticulously chronicles every detail you remember, and not at home, at work.

If you findyourself out of a job and feel the process has been unfair or you have not been given what is owed to you, you should consult with a Portland employment law expert as soon as possible. You will be surprised at the results you can achieve if you have a convincing story and an expert to negotiate on your behalf.

Unfair Employment Practices Require a Lawyer's Help

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Bankruptcy Versus Debt Consolidation - A Clear Choice

A recent article in The New York Times exposed serious pitfalls in front of consumers, lured by the debt consolidation companies that advertise aggressively. The pitch is simple: "Do not file bankruptcy instead of paying the debt negotiation company, which is a lower payment or lump sum settlements .." The problem is that it has never been easier. The industry is raking debt settlement money. The New York Times noted that the industry is "so that a profitable tradeAssociation, the U.S. bankruptcy alternatives for organizations recently convened [in Palm Springs, Florida] to ensure the maritime borders of the Four Seasons Resort, offers and to plot strategy. "But after the consolidation company debt is money the average consumer, the consumer is rarely in a better position, and often file for bankruptcy anyway.

These companies go by many names, including debt consolidation, debt negotiation and debtRemoval companies. The most common tactic of these companies debt consolidation is to educate the consumer so that their accounts are in default. Instead of paying the creditors of the consumer is asked to pay money to the debt settlement company. The company will pay a debt negotiation percentage of the money - often 15% to 20%. Then the debt settlement companies contacted by the creditors and tried to negotiate a lower payment or agreement which is for a smallpercentage of the full debt.

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In the past, it may have been possible to construct such a house of cards. But creditors have become savvy, and more aggressive. If the creditor waits until the debt negotiator has settled with the other creditors, then there may be a larger pot of available funds, and the debt settlement company may have to agree to a higher amount to get the last settling creditor into the house of cards. Or, the creditor may not settle at all, causing the house of cards to collapse entirely. By this time, the consumer is in default on all of their bills, has paid exorbitant fees to the debt elimination company, and is still deep in debt. They are looking at filing for bankruptcy after all.

Bankruptcy Versus Debt Consolidation - A Clear Choice

By contrast, bankruptcy can be a line drawn in the sand. The consumer pays a fee for a qualified bankruptcy attorney to file their bankruptcy petition and schedules. By law, all of the creditors must immediately stop all collection efforts, including calls, letters, and lawsuits. Foreclosures are halted. Garnishments stop. The bankruptcy court judge decides which of the debts are dischargeable, and what money and property the debtor is entitled to keep. After the judge issues a discharge order, the discharged debts are gone forever.

Although the bankruptcy is a significant impact on a consumer's credit report, all of the impact is felt at one time. The bankruptcy judgment will be off of the consumer's credit report within ten years. After about two years of paying bills on time, a consumer will typically qualify for credit on regular terms. By contrast, using the debt consolidators and debt settlement companies may result in lawsuits and collections for years down the road.

As the New York Times reports, there really is no question about the value of the services of these companies. It is a bad deal for consumers. Bankruptcy is a serious decision with long lasting consequences. But it marks a definite line in the sand from which a consumer can discharge most or all of their debts, start over from scratch, and get a fresh start.

Bankruptcy Versus Debt Consolidation - A Clear Choice

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