New Oregon law impacting lenders/borrowers precludes most judicial and non-judicial foreclosures, regardless of the reason for or length of the default, during the emergency period defined from March 8, 2020 to September 30, 2020.
The statute voids most foreclosures that have already occurred during the period, forbids entry of new judgments, forbids new writs of executions, and requires dismissal of any new foreclosure action filed during the emergency period. The statute also requires lenders follow rules regarding missed payments and requires lenders to give notice to borrowers of their rights under the statute. The statute allows a borrower suffering an ascertainable loss as a result of a lender’s failure to comply to sue the lender, and recover attorney fees in connection with the suit. https://olis.
In addition, Oregon passed a new law which impacts landlords with renters who fail to pay rent and other fees related to a rental agreement, and will only impact parties who attempt to evict following foreclosure if those parties have somehow become a landlord. https://olis.leg.state.or.us/
