Foreclosure is the procedure by which a party who has loaned money secured by a mortgage or deed of trust on real property (or has an unpaid judgment), forces the sale of the real property to recover the money due, unpaid interest, plus the costs of foreclosure, after the debtor fails to make payment.
In most cases, a wrongful foreclosure action alleges that the amount stated as due and owing in the notice of default is incorrect for one or more of the following reasons: an incorrect interest rate adjustment, incorrect tax escrow collected, misapplied payments, or a forbearance agreement which was not adhered to by the servicer, Wrongful foreclosure actions are also brought when the servicers accept partial payments after initiation of the wrongful foreclosure process, then continue with the foreclosure.
Oregon Instruction to Jury Regarding Damages for Wrongful Foreclosure serves as a set of guidelines for jurors when assessing and determining the appropriate compensation in cases related to wrongful foreclosure in the state of Oregon. These instructions aim to ensure a fair and just outcome, considering the extent of the harm caused, financial losses incurred, emotional distress experienced, and any other relevant factors. In cases of wrongful foreclosure, where a property is unlawfully seized or sold due to procedural errors or violations, the following Oregon Instruction to Jury Regarding Damages may be applicable: 1. Compensatory Damages: Jurors are instructed to consider the actual financial harm suffered by the plaintiff as a result of the wrongful foreclosure. This may include the amount of equity lost, any costs incurred in attempts to halt the foreclosure, legal fees, and other direct economic damages. 2. Emotional Distress Damages: If the plaintiff presents evidence of emotional distress caused by the wrongful foreclosure, jurors may consider awarding damages for mental anguish, stress, anxiety, humiliation, or similar psychological impact. 3. Punitive Damages: In instances where the foreclosure is found to be willful, malicious, or fraudulent, jurors may be instructed to consider awarding punitive damages. These damages aim to punish the defendant for their wrongful actions and deter others from engaging in similar behavior in the future. 4. Mitigation of Damages: The jury may also be instructed to evaluate whether the plaintiff took reasonable steps to mitigate their damages. If it is determined that the plaintiff could have avoided some financial losses by taking appropriate actions, the award may be adjusted accordingly. 5. Attorney Fees and Costs: In certain cases, where specific statutes or laws provide for the recovery of attorney fees and costs, jury instructions may include guidelines for assessing the reasonable fees and costs incurred by the plaintiff during the legal process. It is important to note that the specific instructions given to the jury may vary depending on the circumstances and evidence presented in each case. These instructions are intended to help guide jurors in their decision-making process, promoting fairness and consistency in determining damages for wrongful foreclosure in Oregon.
