In Oregon, attention must be paid in drafting loan documents and identifying the date final payment is due (the “Maturity Date”). In loans secured by real property, the Maturity Date should be included in any recorded mortgage, trust deed, … [Read more...] about Secured Transactions and Maturity Dates
All Lenders Should Be Aware of the MERS Decision
On July 18, 2012, the Oregon Court of Appeals decided Niday v. GMAC Mortgage, LLC which impacts all lenders, even those who do not participate in the MERS program. Essentially, the Court emphasized: “And the import of our holding is this: A beneficiary … [Read more...] about All Lenders Should Be Aware of the MERS Decision
How Does SB 1552 Affect Individuals Holding Trust Deeds?
Signed into law earlier this year and taking effect July 11, 2012, SB 1552 creates a statewide foreclosure mediation program and significantly alters the mortgage foreclosure process in Oregon for beneficiaries (lenders) and grantors (borrowers). The Act … [Read more...] about How Does SB 1552 Affect Individuals Holding Trust Deeds?
Reaffirming Debts in Bankruptcy
Despite the drop in the number of Chapter 7 and Chapter 13 bankruptcy filings in 2011, the projections for 2012 are bleak. For creditors, that means continuing to navigate the rules in bankruptcy. Some debtors holding collateral will try and reaffirm … [Read more...] about Reaffirming Debts in Bankruptcy
Legislative Update: 2012 Senate Bill 1552 – Mandatory Mediation on Residential Trust Deeds
In its closing hours, the 2012 Oregon Legislative Assembly enacted Senate Bill 1552, which generally requires larger volume home lenders to enter into mediation with defaulting borrowers prior to commencing trust deed foreclosure by advertisement and … [Read more...] about Legislative Update: 2012 Senate Bill 1552 – Mandatory Mediation on Residential Trust Deeds