Right of redemption law (in Oregon)

[Joe Liu]

Hi guys, does anyone have experience with the "right of redemption" law? So what I am wondering is if a Judicial foreclosure happens and lets say the house is worth $200k. They for whatever reason let it go to something stupid like $30k in property taxes, could I go out, seek out these x-owners with the "right of redemption" and buy the right of redemption from them and then pay off there $30k + fees and then take over the property?

Also, that 2nd part of this law - "by submitting notice to the Sheriff not more than 30 and not less than 2 days in advance of the redemption". Does this mean, redeem the right of redemption within 6 months. Once I pay off the outstanding loan, after 2 days, I have to let the sheriff know?

Also, I heard that if there is a 2nd loan on the house, that the 2nd loan has 2 months right of redemption. If anyone is from Oregon, have you heard of this?

------------- pulled this off the Oregon website ------------
Is there a right of redemption in Oregon?

Oregon has a post-salestatutory right of redemption for judicial foreclosures, which would allow a party whose property has been foreclosed to reclaim that property 180 days after the sale by making payment in full of the sum of the unpaid loan plus costs and by submitting notice to the Sheriff not more than 30 and not less than 2 days in advance of the redemption.

Thanks!

Joe