need help in oregon !!!

[bigdawg100]

new to forum have been lurking for a few days and looks like great site for info.
heres my story 2 houses with chase 1 i moved out of because i had to relocate for daughters , school planed on selling or renting . so i found good deal on home where i needed it.
rented out old home for half of mortgage and renters canot afford and have left me high and dry . i owe chase 285,000 on first and 60,000 on second to homecoming .
i'm a contractor and things have realy slowed down , so i don't think i can hold on to this rental any longer @ approx 3000 per month .

what i'm wondering is what happens most of the time when there is a second when you do foreclosure or give title back . do you guys think chase or homecomings would try to come after my current house for money owed .

i know you can't give legal advise but i'm looking for the best scenario to head towards.
thanks bigdawg

[Moe Bedard]

Hi bigdawg100,

Welcome to the forum and thank you for joining..........

In Oregon they can pursue a deficiency judgement..........as far as going after your current property or even other assets.........that you would need to ask an attorney who deals with real estate and tax laws......

Oregon Foreclosure Law