FORECLOSURE AVOIDANCE MEASURE NOTICES
These division 120 rules apply to any beneficiary seeking to foreclose a residential trust deed pursuant to ORS 86.705 to 86.795.
Stat. Auth.: 2012 OL Ch. 112, Sec. 4a
Stats. Implemented: 2012 OL Ch. 112, Sec. 4a
Hist.: DOJ 11-2012(Temp), f. 7-6-12, cert. ef. 7-11-12 thru 1-6-13; DOJ 1-2013, f. 1-3-13, cert. ef. 1-7-13; Suspended by DOJ 7-2013(Temp), f. 7-22-13, cert. ef. 8-4-13 thru 1-31-14
Determination of Grantor Ineligibility for or Noncompliance With Foreclosure Avoidance Measure
(1) If a beneficiary determines that a grantor is not eligible for any foreclosure avoidance measure or that the grantor has not complied with the terms of a foreclosure avoidance measure to which the grantor has agreed, the beneficiary or the beneficiary’s agent shall mail a written notice to the grantor within 10 days of making that determination that includes:
(a) The name of the grantor;
(b) The name of the beneficiary;
(c) The address of the property at issue;
(d) A statement that the beneficiary has either:
(A) Determined that the grantor is not eligible for a foreclosure avoidance measure, stating each foreclosure avoidance measure considered. The basis for the beneficiary’s determination must be described with specificity in plain language; or
(B) Determined that the grantor is not in compliance with the terms of an agreement for forbearance, a temporary or permanent loan modification, a short sale, a deed-in-lieu of foreclosure, or another foreclosure avoidance measure. The basis for the beneficiary’s determination must be described with specificity in plain language;
(e) The date specified for the property’s trustee sale if a trustee’s sale is pending; and
(f) Provide contact information for low-cost legal service providers and the Oregon State Bar.
(2) The notice described in section (1) of this rule shall substantially comply with the model form provided in the Appendix to these division 120 rules and available as “Form 20” at http://www.doj.state.or.us/consumer/foreclosure_mediation.shtml.
(3) A copy of the notice described in section (1) of this rule shall be submitted to the Attorney General of Oregon at 1162 Court St. NE, Salem OR, 97301 or firstname.lastname@example.org.
[ED. NOTE: Appendices referenced are not included in rule text. Click here for PDF copy of appendicies.]
Stat. Auth.: 2013 OL Ch. 304, Sec. 6(1)(g)
Stats. Implemented: 2013 OL Ch. 304, Sec. 9
Hist.: DOJ 11-2012(Temp), f. 7-6-12, cert. ef. 7-11-12 thru 1-6-13; DOJ 1-2013, f. 1-3-13, cert. ef. 1-7-13; DOJ 7-2013(Temp), f. 7-22-13, cert. ef. 8-4-13 thru 1-31-14
Oregon Secretary of State • 136 State Capitol • Salem, OR 97310-0722
Phone: (503) 986-1523 • Fax: (503) 986-1616 • email@example.com
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