The governor signed House Bill 3244 on June 16. This bill provides that a borrower or borrower’s agent may rely on lender’s payoff statement for the amount required to satisfy or discharge a mortgage, and that any amounts not listed in the payoff statement can only be recovered as unsecured debt or by foreclosure on other secured property. The new law became effective immediately.

Oregon – HB 3244 Modifies Methods for Calculating Payoff Amount to Satisfy a Mortgage
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