Oregon Protections form the Effects of the COVID-19 Pandemic

July 08, 2020

Oregon House Bill 4204 establishes temporary limitations on lenders being able to enforce default remedies on obligations secured by mortgages, trust deeds, land sale contracts or other instruments, effective June 30, 2020; includes: requirements to defer payments; escrow impound considerations; notice requirements for residential and commercial borrowers; a written notice to borrower of borrower's rights for accommodation under Act; prohibitions on fees, penalties and charges; foreclosure dismissals; and provides for actual damages in event of suit by a borrower.

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