All Forum Posts by: Bobby Vernazza

Thanks for the advice.  That's my plan, I have been trying to educate myself as much as possible before taking action in purchasing anything so I don't back myself into a corner.  I will definitely seek out advice before purchasing any property.  I would rather get told what not to do rather than nothing, so I can refine my focus and make a plan of attack.  Thanks again for your insight.

@Jered Souder

I have a list of properties that have been two years delinquent (chances are that they are going to be three then foreclosed upon) that I plan on marketing too.  I just wanted to get a good understanding of the whole process that takes place.  However, with these properties that are two years delinquent, chances are they are not paying their mortgage as well which you stated.  So if I was to obtain these properties, would I have to make some sort of agreement/contract with the owner to pay their property and mortgage balances and in return I would gain ownership to the house along with giving them a few thousands for their efforts? 

Hello Everyone,

First off this is my first post in the forums, so cut me a little slack if my post isn’t very clear. I have been considering getting a tax delinquency list for Oregon and started to do a little research on the topic and came up with a few questions. Please correct me if I am wrong about anything I state below.

With a tax foreclosure in Oregon, this occurs after a homeowner has been three years delinquent on their taxes. The county then sends them a notice of default and later a notice of foreclosure. Once the foreclosure judgement is put into action, is there any kind of redemption period? According to this website : http://www.nolo.com/legal-encyclopedia/what-happens-if-i-dont-pay-property-taxes-oregon.html it is stated that: “After the court issues its foreclosure judgment, you get two years to get caught up on the delinquent amounts before you lose your home (Or. Rev. Stat. § 312.120)” So apparently there is a redemption period of two years where the homeowner can pay back their delinquent taxes (plus fees, penalties and interest). Does this then allow the homeowner to have a total of 5 years to slack off with their property taxes before they have to get caught up or have the house be taken by the county? In addition to this according to https://www.oregon.gov/DOR/forms/FormsPubs/310-671.pdf it has been stated that “When one year remains in the redemption period, the county sends a notice by certified and first class mail to all persons with a legally recorded interest in the property.” Would this “person with legally recorded interest” pertain to investors seeking to obtain the property at some point? At what point is a "person with interest" able to obtain the property? This is all a little confusing to me, any insight on this topic would be greatly appreciated! Thanks!

Hey Everyone,

My name is Bobby and I am a recent graduate from Oregon State University.  I currently have a rental property and am very interested in purchasing more properties but am looking for more information and trying to broaden my horizons to better my success.  I look forward to seeing what this forum has to offer and gaining a vast amount of knowledge.  I am very excited to start my investing career and look forward to having some constructive criticism along the way.