[nikko]

My understanding is that no deficiency is allowed on a residential trust deed, whether foreclosed judicially or non judicially. See ORS 86.770(2). My understanding is that there is no deficiency available even for a guarantor of a note. I believe that, for residential trust deeds (defined in ORS 86.705(4)), there can be no deficiency judgment. The deficiency judgment in a judicial foreclosure only applies to non-residential trust deeds. Please correct me if I'm wrong (and point me to the ORS cite).