SB 1552 | FORECLOSURE FRAUD | by DinSFLA

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Oregon House passes foreclosure protection bill addressing mediation, dual track

Oregon House passes foreclosure protection bill addressing mediation, dual track


Oregon Line-

Oregon lawmakers reached a last-minute deal Monday on protections for homeowners facing foreclosure, passing legislation that will require lenders to meet face to face with borrowers before initiating foreclosure.

The House approved Senate Bill 1552 by a 56-4 vote late Monday as the Legislature approached adjournment. It will require lenders to meet with borrowers in mediation and end the “dual track” practice of foreclosing while negotiating a loan modification.

[OREGON LIVE]

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