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Bob Malecki#3 Tax Liens & Mortgage Notes Contributor
  • Investor
  • Kingston, WA
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Oklahoma Foreclosure Power of Sale question

Bob Malecki#3 Tax Liens & Mortgage Notes Contributor
  • Investor
  • Kingston, WA
Posted Jan 28 2015, 10:44

Hi All, 

I've purchased a few NPLs recently in Oklahoma and according to the article at https://www.foreclosure.com/statelaw_OK.html OK allows a non-judicial FC if there is a Power of Sale clause in the mortgage document. Both of the notes I purchased has this clause. 

We have inquired with a few law firms in OK and they are saying that they do not use the POS and just go directly to a judicial FC. It seems like they are just wanting to make more money in fees by going full judicial. Am I missing anything here? Has anyone done a foreclosure in OK using the Power of Sale provision? 

Bob