OKLAHOMA FORECLOSURE LAWS

Non judicial foreclosures are possible under the Oklahoma Power of Sale mortgage foreclosure act of 1986. Judicial foreclosure is used when the lender wishes to obtain a deficiency judgment and avoid the problem caused by property that has been homesteaded. In this type of foreclosure the lender must have the property appraised prior to the sale.

Deficiency: Both types of foreclosure can obtain a deficiency judgment if the actions started within 90 days of the sale.

Redemption: No redemption once the court confirms a judicial foreclosure sale.

No redemption possible with a non judicial foreclosure.