HB 3397
Establishes temporary limitations on lenders' remedies for borrowers' failures to make payments on obligations secured by mortgages, trust deeds or land sale contracts for certain real property.
| Status | In House Committee (HRULES) |
| Requested by | (at the request of Oregon Restaurant and Lodging Association, Main Street Alliance of Oregon) |
| Sponsors | Paul Evans (Democrat) (Chief), Kim Thatcher (Republican) (Chief), Janelle Bynum (Democrat) (Chief), Deb Patterson (Democrat) (Chief), Julie Fahey (Democrat), Rob Nosse (Democrat), Suzanne Weber (Republican), Dick Anderson (Republican), Michael Dembrow (Democrat), Sara Gelser Blouin (Democrat), Jeff Golden (Democrat), Chris Gorsek (Democrat), Bill Hansell (Republican), Tawna Sanchez (Democrat), David Gomberg (Democrat) |
| Fiscal impact | May have fiscal impact, but no statement yet issued |
| Revenue impact | May have revenue impact, but no statement yet issued |
| Emergency clause | Yes |
Bill Text
Establishes temporary limitations on lenders’ remedies for borrower payment failures on mortgages, trust deeds, and land sale contracts for residential real property.
Overview#
Establishes temporary limitations on lenders’ remedies for borrowers’ failures to make payments on obligations secured by mortgages, trust deeds or land sale contracts for certain real property. Declares emergency, effective on passage.
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2021-04-28 | H | First reading. Referred to Speaker's desk. |
| 2021-05-04 | H | Referred to Rules. |
| 2021-06-26 | H | In committee upon adjournment. |