75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
SA to A-Eng. SB 628
LC 2676/SB 628-A9
SENATE AMENDMENTS TO
A-ENGROSSED SENATE BILL 628
By COMMITTEE ON RULES
June 11
On page 1 of the printed A-engrossed bill, line 2, after ' ORS'
delete the rest of the line and line 3 and insert '86.750 and
section 20, chapter 19, Oregon Laws 2008; and declaring an
emergency.'.
Delete lines 5 through 25 and delete pages 2 through 7 and
insert:
' { + SECTION 1. + } Section 20, chapter 19, Oregon Laws
2008, is amended to read:
' { + Sec. 20. + } (1) If a notice of default is recorded for
property that is subject to a residential trust deed, the sender
of a notice of sale under ORS 86.740 shall, on or before the date
the notice of sale is served or mailed, give notice under this
section to the grantor by both first class and certified mail
with return receipt requested. Subject to any rules adopted under
subsection (2) of this section, the notice must be in
substantially the following form and printed in at least 14-point
type:
' _______________________________________________________________
NOTICE:
YOU ARE IN DANGER OF LOSING
YOUR PROPERTY IF YOU DO NOT
TAKE ACTION IMMEDIATELY
This notice is about your mortgage loan on your property
at ______ (address).
Your lender has decided to sell this property because the money
due on your mortgage loan has not been paid on time or because
you have failed to fulfill some other obligation to your lender.
This is sometimes called 'foreclosure. '
The amount you would have had to pay as of ___ (date) to bring
your mortgage loan current was $___. The amount you must now pay
to bring your loan current may have increased since that date.
By law, your lender has to provide you with details about the
amount you owe, if you ask. You may call ______ (telephone
number) to find out the exact amount you must pay to bring your
mortgage loan current and to get other details about the amount
you owe. You may also get these details by sending a request by
certified mail to: ______.
THIS IS WHEN AND WHERE
YOUR PROPERTY WILL BE SOLD
IF YOU DO NOT TAKE ACTION:
Date and time: ______, 2___ at ______
Place: ______
THIS IS WHAT YOU CAN DO
TO STOP THE SALE:
1. You can pay the amount past due or correct any other default,
up to five days before the sale.
2. You can refinance or otherwise pay off the loan in full
anytime before the sale.
3. You can { - call ______ (name) at ______ (telephone number)
to find out if your lender is willing to - } { + request that
your lender + } give you more time or change the terms of your
loan.
4. You can sell your home, provided the sale price is enough to
pay what you owe.
There are government agencies and nonprofit organizations that
can give you information about foreclosure and help you decide
what to do. For the name and telephone number of an organization
near you, please call the statewide telephone contact number at
______. You may also wish to talk to a lawyer. If you need help
finding a lawyer, you may call the Oregon State Bar's Lawyer
Referral Service at ______ or toll-free in Oregon at ______ or
you may visit its website at: ______. Legal assistance may be
available if you have a low income and meet federal poverty
guidelines. For more information and a directory of legal aid
programs, go to ______.
{ + Your lender may be willing to modify your loan to reduce
the interest rate, reduce the monthly payments or both. You can
get information about possible loan modification programs by
contacting your lender at ______. If you can't reach your lender,
you may contact the trustee at the telephone number at the bottom
of this notice. If you have already entered into a loan
modification with your lender, it is possible that you will not
be able to modify your loan again unless your circumstances have
changed. Your lender is not obligated to modify your loan. + }
{ + You may request to meet with your lender to discuss options
for modifying your loan. During discussions with your lender, you
may have the assistance of a lawyer, a housing counselor or
another person of your choosing. To receive a referral to a
housing counselor or other assistance available in your
community, call this toll-free consumer mortgage foreclosure
information number: ______. Many lenders participate in new
federal loan modification programs. You can obtain more
information about these programs at: __________. + }
{ + IF YOU WANT TO APPLY TO MODIFY YOUR LOAN, YOU MUST FILL OUT
AND MAIL BACK THE ENCLOSED 'MODIFICATION REQUEST FORM.' YOUR
LENDER MUST RECEIVE THE FORM BY ______, WHICH IS 30 DAYS AFTER
THE DATE SHOWN BELOW. + }
WARNING: You may get offers from people who tell you they can
help you keep your property. You should be careful about those
offers. Make sure you understand any papers you are asked to
sign. If you have any questions, talk to a lawyer or one of the
organizations mentioned above before signing.
DATED: ___, 2___
Trustee name: ______ (print)
Trustee signature: ______
Trustee telephone number: ______
' _______________________________________________________________
' (2) The Department of Consumer and Business Services may
adopt rules prescribing the format, font size and other physical
characteristics of the notice form set forth in subsection (1) of
this section. The department shall adopt rules specifying the
{ - statewide - } resource telephone contact numbers and
website addresses the sender is to insert in completing the
notice.
' (3) When filling blanks in the notice form set forth in
subsection (1) of this section, the sender of the notice shall
include, stated in plain language:
' (a) The amount of payment that was needed to bring the
mortgage loan current as of the date stated in the notice; and
' (b) One or more telephone numbers consisting of:
' (A) A telephone number that will allow the grantor access
during regular business hours to details regarding the grantor's
loan delinquency and repayment information; and
' (B) A telephone number that will allow the grantor access
during regular business hours to person-to-person consultation
with an individual authorized by the beneficiary to discuss the
grantor's payment and loan term negotiation and modification
options.
' (4) Telephone numbers described in subsection (3) of this
section must be toll-free numbers unless the beneficiary:
' (a) Made the loan with the beneficiary's own money;
' (b) Made the loan for the beneficiary's own investment; and
' (c) Is not in the business of making loans secured by an
interest in real estate.
' (5) If the sender giving notice under subsection (1) of this
section has actual knowledge that the grantor is not the occupant
of the residential real property, the sender shall also give
notice to the occupant of the property by both first class and
certified mail with return receipt requested.
' { + (6) The notice required under subsection (1) of this
section must be accompanied by a form to request a loan
modification. The form must include the address to which and
state the date by which the grantor must return the form. The
date must be 30 days after the date on which the trustee signs
the notice. The form may state that the grantor must disclose
current information about the grantor's income and expenses, the
grantor's address, phone number and electronic mail address and
other facts that may affect the grantor's eligibility for a loan
modification. + }
' { + SECTION 2. + } { + Sections 3 and 3a of this 2009 Act
are added to and made a part of ORS 86.705 to 86.795. + }
' { + SECTION 3. + } { + (1) If a grantor returns the form
identified in section 20 (6), chapter 19, Oregon Laws 2008, to
the lender by the date specified on the form, the beneficiary or
an agent of the beneficiary shall review the information the
grantor provided in the form and, in good faith, shall process
the grantor's request. The beneficiary or the beneficiary's
agent within 30 days after receiving the form shall notify the
grantor whether the beneficiary approves or denies the request or
requires additional information. A trustee's sale for the
property subject to the loan may not occur until after the
beneficiary or the beneficiary's agent timely responds to the
grantor. During the 30-day period, the beneficiary or the
beneficiary's agent may request the grantor to provide additional
information required to determine whether the loan can be
modified.
' (2)(a) Except as provided in paragraph (b) of this
subsection, if the grantor timely requests a meeting with the
beneficiary, the beneficiary or the beneficiary's agent shall
meet with the grantor in person or shall speak to the grantor by
telephone before the beneficiary or the beneficiary's agent
responds to the grantor's request to modify the loan. If the
grantor requests the meeting, the beneficiary or the
beneficiary's agent shall take reasonable steps to schedule the
meeting by contacting the grantor at the grantor's last known
address or telephone number or at the grantor's electronic mail
address, if the grantor indicates on the loan modification form
that the beneficiary or the beneficiary's agent can contact the
grantor at the electronic mail address.
' (b) A beneficiary or the beneficiary's agent complies with
the provisions of paragraph (a) of this subsection even if the
beneficiary or beneficiary's agent does not speak to or meet with
the grantor if, within seven business days after the beneficiary
or beneficiary's agent attempts to contact the grantor, the
grantor does not respond.
' (c) The beneficiary or the beneficiary's agent that meets
with the grantor shall have or be able to obtain authority to
modify the loan.
' (3)(a) The beneficiary or the beneficiary's agent shall
provide the trustee with the affidavit described in ORS 86.750
(5). In the affidavit, the beneficiary or the beneficiary's agent
shall describe how the beneficiary or the beneficiary's agent has
complied with subsections (1) and (2) of this section.
' (b) The trustee shall record the affidavit described in
paragraph (a) of this subsection and send a copy of the affidavit
to the Director of the Department of Consumer and Business
Services before conducting a trustee's sale. If the trustee fails
to send a copy of the affidavit to the director, the failure does
not affect title to the property subject to the loan.
' (4) Subsections (1) and (2) of this section do not apply to a
beneficiary that determines in good faith, after considering the
most current financial information the grantor provides, that the
grantor is not eligible for a loan modification. + }
' { + SECTION 3a. + } { + (1) If a grantor returns the form
identified in section 20 (6), chapter 19, Oregon Laws 2008, to
the lender by the date specified on the form, the beneficiary or
an agent of the beneficiary shall review the information the
grantor provided in the form and, in good faith, shall process
the grantor's request. The beneficiary or the beneficiary's
agent within 30 days after receiving the form shall notify the
grantor whether the beneficiary approves or denies the request or
requires additional information. A trustee's sale for the
property subject to the loan may not occur until after the
beneficiary or the beneficiary's agent timely responds to the
grantor. During the 30-day period, the beneficiary or the
beneficiary's agent may request the grantor to provide additional
information required to determine whether the loan can be
modified.
' (2)(a) Except as provided in paragraph (b) of this
subsection, if the grantor timely requests a meeting with the
beneficiary, the beneficiary or the beneficiary's agent shall
meet with the grantor in person or shall speak to the grantor by
telephone before the beneficiary or the beneficiary's agent
responds to the grantor's request to modify the loan. If the
grantor requests the meeting, the beneficiary or the
beneficiary's agent shall take reasonable steps to schedule the
meeting by contacting the grantor at the grantor's last known
address or telephone number or at the grantor's electronic mail
address, if the grantor indicates on the loan modification form
that the beneficiary or the beneficiary's agent can contact the
grantor at the electronic mail address.
' (b) A beneficiary or the beneficiary's agent complies with
the provisions of paragraph (a) of this subsection even if the
beneficiary or beneficiary's agent does not speak to or meet with
the grantor if, within seven business days after the beneficiary
or beneficiary's agent attempts to contact the grantor, the
grantor does not respond.
' (c) The beneficiary or the beneficiary's agent that meets
with the grantor shall have or be able to obtain authority to
modify the loan.
' (3)(a) The beneficiary or the beneficiary's agent shall
provide the trustee with the affidavit described in ORS 86.750
(5). In the affidavit, the beneficiary or the beneficiary's agent
shall describe how the beneficiary or the beneficiary's agent has
complied with subsections (1) and (2) of this section.
' (b) The trustee shall record the affidavit described in
paragraph (a) of this subsection.
' (4) Subsections (1) and (2) of this section do not apply to a
beneficiary that determines in good faith, after considering the
most current financial information the grantor provides, that the
grantor is not eligible for a loan modification. + }
' { + SECTION 4. + } Section 20, chapter 19, Oregon Laws
2008, as amended by section 1 of this 2009 Act, is amended to
read:
' { + Sec. 20. + } (1) If a notice of default is recorded for
property that is subject to a residential trust deed, the sender
of a notice of sale under ORS 86.740 shall, on or before the date
the notice of sale is served or mailed, give notice under this
section to the grantor by both first class and certified mail
with return receipt requested. Subject to any rules adopted under
subsection (2) of this section, the notice must be in
substantially the following form and printed in at least 14-point
type:
' _______________________________________________________________
NOTICE:
YOU ARE IN DANGER OF LOSING
YOUR PROPERTY IF YOU DO NOT
TAKE ACTION IMMEDIATELY
This notice is about your mortgage loan on your property
at ______ (address).
Your lender has decided to sell this property because the money
due on your mortgage loan has not been paid on time or because
you have failed to fulfill some other obligation to your lender.
This is sometimes called 'foreclosure. '
The amount you would have had to pay as of ___ (date) to bring
your mortgage loan current was $___. The amount you must now pay
to bring your loan current may have increased since that date.
By law, your lender has to provide you with details about the
amount you owe, if you ask. You may call ______ (telephone
number) to find out the exact amount you must pay to bring your
mortgage loan current and to get other details about the amount
you owe. You may also get these details by sending a request by
certified mail to: ______.
THIS IS WHEN AND WHERE
YOUR PROPERTY WILL BE SOLD
IF YOU DO NOT TAKE ACTION:
Date and time: ______, 2___ at ______
Place: ______
THIS IS WHAT YOU CAN DO
TO STOP THE SALE:
1. You can pay the amount past due or correct any other default,
up to five days before the sale.
2. You can refinance or otherwise pay off the loan in full
anytime before the sale.
3. You can { - request that your lender - } { + call ______
(name) at ______ (telephone number) to find out if your lender is
willing to + } give you more time or change the terms of your
loan.
4. You can sell your home, provided the sale price is enough to
pay what you owe.
There are government agencies and nonprofit organizations that
can give you information about foreclosure and help you decide
what to do. For the name and telephone number of an organization
near you, please call the statewide telephone contact number at
______. You may also wish to talk to a lawyer. If you need help
finding a lawyer, you may call the Oregon State Bar's Lawyer
Referral Service at ______ or toll-free in Oregon at ______ or
you may visit its website at: ______. Legal assistance may be
available if you have a low income and meet federal poverty
guidelines. For more information and a directory of legal aid
programs, go to ______.
{ - Your lender may be willing to modify your loan to reduce
the interest rate, reduce the monthly payments or both. You can
get information about possible loan modification programs by
contacting your lender at ______. If you can't reach your lender,
you may contact the trustee at the telephone number at the bottom
of this notice. If you have already entered into a loan
modification with your lender, it is possible that you will not
be able to modify your loan again unless your circumstances have
changed. Your lender is not obligated to modify your loan. - }
{ - You may request to meet with your lender to discuss options
for modifying your loan. During discussions with your lender, you
may have the assistance of a lawyer, a housing counselor or
another person of your choosing. To receive a referral to a
housing counselor or other assistance available in your
community, call this toll-free consumer mortgage foreclosure
information number: ______. Many lenders participate in new
federal loan modification programs. You can obtain more
information about these programs at: __________. - }
{ - IF YOU WANT TO APPLY TO MODIFY YOUR LOAN, YOU MUST FILL OUT
AND MAIL BACK THE ENCLOSED 'MODIFICATION REQUEST FORM.' YOUR
LENDER MUST RECEIVE THE FORM BY ______, WHICH IS 30 DAYS AFTER
THE DATE SHOWN BELOW. - }
WARNING: You may get offers from people who tell you they can
help you keep your property. You should be careful about those
offers. Make sure you understand any papers you are asked to
sign. If you have any questions, talk to a lawyer or one of the
organizations mentioned above before signing.
DATED: ___, 2___
Trustee name: ______ (print)
Trustee signature: ______
Trustee telephone number: ______
' _______________________________________________________________
' (2) The Department of Consumer and Business Services may
adopt rules prescribing the format, font size and other physical
characteristics of the notice form set forth in subsection (1) of
this section. The department shall adopt rules specifying the
resource telephone contact numbers and website addresses the
sender is to insert in completing the notice.
' (3) When filling blanks in the notice form set forth in
subsection (1) of this section, the sender of the notice shall
include, stated in plain language:
' (a) The amount of payment that was needed to bring the
mortgage loan current as of the date stated in the notice; and
' (b) One or more telephone numbers consisting of:
' (A) A telephone number that will allow the grantor access
during regular business hours to details regarding the grantor's
loan delinquency and repayment information; and
' (B) A telephone number that will allow the grantor access
during regular business hours to person-to-person consultation
with an individual authorized by the beneficiary to discuss the
grantor's payment and loan term negotiation and modification
options.
' (4) Telephone numbers described in subsection (3) of this
section must be toll-free numbers unless the beneficiary:
' (a) Made the loan with the beneficiary's own money;
' (b) Made the loan for the beneficiary's own investment; and
' (c) Is not in the business of making loans secured by an
interest in real estate.
' (5) If the sender giving notice under subsection (1) of this
section has actual knowledge that the grantor is not the occupant
of the residential real property, the sender shall also give
notice to the occupant of the property by both first class and
certified mail with return receipt requested.
' { - (6) The notice required under subsection (1) of this
section must be accompanied by a form to request a loan
modification. The form must include the address to which and
state the date by which the grantor must return the form. The
date must be 30 days after the date on which the trustee signs
the notice. The form may state that the grantor must disclose
current information about the grantor's income and expenses, the
grantor's address, phone number and electronic mail address and
other facts that may affect the grantor's eligibility for a loan
modification. - }
' { + SECTION 5. + } ORS 86.750, as amended by section 1,
chapter ___, Oregon Laws 2009 (Enrolled Senate Bill 239), is
amended to read:
' 86.750. (1)(a) Except as provided in paragraph (b) of this
subsection, the notice prescribed in ORS 86.745 shall be served
upon an occupant of the property described in the trust deed in
the manner in which a summons is served pursuant to ORCP 7 D(2)
and 7 D(3) at least 120 days before the day the trustee conducts
the sale.
' (b)(A) If service cannot be effected on an occupant as
provided in paragraph (a) of this subsection on the first
attempt, the person attempting service shall post a copy of the
notice in a conspicuous place on the property on the date of the
first attempt. The person attempting service shall make a second
attempt to effect service on a day that is at least two days
after the first attempt.
' (B) If service cannot be effected on an occupant as provided
in paragraph (a) of this subsection on the second attempt, the
person attempting service shall post a copy of the notice in a
conspicuous place on the property on the date of the second
attempt. The person attempting service shall make a third attempt
to effect service on a day that is at least two days after the
second attempt.
' (C) If service cannot be effected on an occupant as provided
in paragraph (a) of this subsection on the third attempt, the
person attempting service shall send a copy of the notice,
bearing the word 'occupant' as the addressee, to the property
address by first class mail with postage prepaid.
' (c) Service on an occupant is deemed effected on the earlier
of the date that notice is served as provided in paragraph (a) of
this subsection or the first date on which notice is posted as
described in paragraph (b)(A) of this subsection.
' (2) A copy of the notice of sale shall be published in a
newspaper of general circulation in each of the counties in which
the property is situated once a week for four successive weeks.
The last publication shall be made more than 20 days prior to the
date the trustee conducts the sale.
' (3) On or before the date the trustee conducts the sale, the
trustee shall file for recording in the official record of the
county or counties in which the property described in the deed is
situated the following affidavits with respect to the notice of
sale:
' (a) An affidavit of mailing, if any;
' (b) An affidavit of service, if any;
' (c) An affidavit of service attempts and posting, if any; and
' (d) An affidavit of publication.
' (4) On or before the date the trustee conducts the sale, the
trustee shall file for recording in the official record of the
county or counties in which the property described in the deed is
situated an affidavit of mailing with respect to the notice to
the grantor required under section 20, chapter 19, Oregon Laws
2008.
' { + (5) On or before the date the trustee conducts the
sale, the trustee shall file for recording in the official record
of the county or counties in which the property is located an
affidavit from the beneficiary or the beneficiary's agent that
states how the beneficiary or the beneficiary's agent has
complied with the provisions of section 3 (1) and (2) of this
2009 Act. + }
' { + SECTION 5a. + } ORS 86.750, as amended by section 1,
chapter ___, Oregon Laws 2009 (Enrolled Senate Bill 239), and
section 5 of this 2009 Act, is amended to read:
' 86.750. (1)(a) Except as provided in paragraph (b) of this
subsection, the notice prescribed in ORS 86.745 shall be served
upon an occupant of the property described in the trust deed in
the manner in which a summons is served pursuant to ORCP 7 D(2)
and 7 D(3) at least 120 days before the day the trustee conducts
the sale.
' (b)(A) If service cannot be effected on an occupant as
provided in paragraph (a) of this subsection on the first
attempt, the person attempting service shall post a copy of the
notice in a conspicuous place on the property on the date of the
first attempt. The person attempting service shall make a second
attempt to effect service on a day that is at least two days
after the first attempt.
' (B) If service cannot be effected on an occupant as provided
in paragraph (a) of this subsection on the second attempt, the
person attempting service shall post a copy of the notice in a
conspicuous place on the property on the date of the second
attempt. The person attempting service shall make a third attempt
to effect service on a day that is at least two days after the
second attempt.
' (C) If service cannot be effected on an occupant as provided
in paragraph (a) of this subsection on the third attempt, the
person attempting service shall send a copy of the notice,
bearing the word 'occupant' as the addressee, to the property
address by first class mail with postage prepaid.
' (c) Service on an occupant is deemed effected on the earlier
of the date that notice is served as provided in paragraph (a) of
this subsection or the first date on which notice is posted as
described in paragraph (b)(A) of this subsection.
' (2) A copy of the notice of sale shall be published in a
newspaper of general circulation in each of the counties in which
the property is situated once a week for four successive weeks.
The last publication shall be made more than 20 days prior to the
date the trustee conducts the sale.
' (3) On or before the date the trustee conducts the sale, the
trustee shall file for recording in the official record of the
county or counties in which the property described in the deed is
situated the following affidavits with respect to the notice of
sale:
' (a) An affidavit of mailing, if any;
' (b) An affidavit of service, if any;
' (c) An affidavit of service attempts and posting, if any; and
' (d) An affidavit of publication.
' (4) On or before the date the trustee conducts the sale, the
trustee shall file for recording in the official record of the
county or counties in which the property described in the deed is
situated an affidavit of mailing with respect to the notice to
the grantor required under section 20, chapter 19, Oregon Laws
2008.
' (5) On or before the date the trustee conducts the sale, the
trustee shall file for recording in the official record of the
county or counties in which the property is located an affidavit
from the beneficiary or the beneficiary's agent that states how
the beneficiary or the beneficiary's agent has complied with the
provisions of section { - 3 - } { + 3a + } (1) and (2) of
this 2009 Act.
' { + SECTION 6. + } ORS 86.750, as amended by section 1,
chapter ___, Oregon Laws 2009 (Enrolled Senate Bill 239), and
sections 5 and 5a of this 2009 Act, is amended to read:
' 86.750. (1)(a) Except as provided in paragraph (b) of this
subsection, the notice prescribed in ORS 86.745 shall be served
upon an occupant of the property described in the trust deed in
the manner in which a summons is served pursuant to ORCP 7 D(2)
and 7 D(3) at least 120 days before the day the trustee conducts
the sale.
' (b)(A) If service cannot be effected on an occupant as
provided in paragraph (a) of this subsection on the first
attempt, the person attempting service shall post a copy of the
notice in a conspicuous place on the property on the date of the
first attempt. The person attempting service shall make a second
attempt to effect service on a day that is at least two days
after the first attempt.
' (B) If service cannot be effected on an occupant as provided
in paragraph (a) of this subsection on the second attempt, the
person attempting service shall post a copy of the notice in a
conspicuous place on the property on the date of the second
attempt. The person attempting service shall make a third attempt
to effect service on a day that is at least two days after the
second attempt.
' (C) If service cannot be effected on an occupant as provided
in paragraph (a) of this subsection on the third attempt, the
person attempting service shall send a copy of the notice,
bearing the word 'occupant' as the addressee, to the property
address by first class mail with postage prepaid.
' (c) Service on an occupant is deemed effected on the earlier
of the date that notice is served as provided in paragraph (a) of
this subsection or the first date on which notice is posted as
described in paragraph (b)(A) of this subsection.
' (2) A copy of the notice of sale shall be published in a
newspaper of general circulation in each of the counties in which
the property is situated once a week for four successive weeks.
The last publication shall be made more than 20 days prior to the
date the trustee conducts the sale.
' (3) On or before the date the trustee conducts the sale, the
trustee shall file for recording in the official record of the
county or counties in which the property described in the deed is
situated the following affidavits with respect to the notice of
sale:
' (a) An affidavit of mailing, if any;
' (b) An affidavit of service, if any;
' (c) An affidavit of service attempts and posting, if any; and
' (d) An affidavit of publication.
' (4) On or before the date the trustee conducts the sale, the
trustee shall file for recording in the official record of the
county or counties in which the property described in the deed is
situated an affidavit of mailing with respect to the notice to
the grantor required under section 20, chapter 19, Oregon Laws
2008.
' { - (5) On or before the date the trustee conducts the sale,
the trustee shall file for recording in the official record of
the county or counties in which the property is located an
affidavit from the beneficiary or the beneficiary's agent that
states how the beneficiary or the beneficiary's agent has
complied with the provisions of section 3a (1) and (2) of this
2009 Act. - }
' { + SECTION 7. + } { + (1) Notwithstanding the purposes
set forth in ORS 180.095, and except as provided in subsection
(2) of this section, the Department of Justice shall use the
proceeds of the State of Oregon's settlement with Countrywide
Financial Corporation that are deposited into the Consumer
Protection and Education Revolving Account to make grants, in
consultation with the Housing and Community Services Department,
to nonprofit entities to provide foreclosure relief services.
' (2) The Department of Justice need not use the proceeds
identified in subsection (1) of this section if sufficient
funding for the purposes identified in subsection (1) of this
section is available from another source. + }
' { + SECTION 8. + } { + (1) Sections 3 and 3a of this 2009
Act and the amendments to ORS 86.750 and section 20, chapter 19,
Oregon Laws 2008, by sections 1, 5 and 5a of this 2009 Act apply
to a notice of sale sent on or after the 60th day following the
effective date of this 2009 Act.
' (2) Sections 3 and 3a of this 2009 Act and the amendments to
ORS 86.750 and section 20, chapter 19, Oregon Laws 2008, by
sections 1, 5 and 5a of this 2009 Act do not apply to property
secured by a trust deed that a government agency holds for a loan
the government agency funded through a government program. + }
' { + SECTION 9. + } { + (1) Section 3a of this 2009 Act and
the amendments to ORS 86.750 by section 5a of this 2009 Act
become operative one year after the effective date of this 2009
Act.
' (2) The amendments to ORS 86.750 and section 20, chapter 19,
Oregon Laws 2008, by sections 4 and 6 of this 2009 Act become
operative on January 2, 2012. + }
' { + SECTION 10. + } { + (1) Section 3 of this 2009 Act is
repealed one year after the effective date of this 2009 Act.
' (2) Section 3a of this 2009 Act is repealed on January 2,
2012. + }
' { + SECTION 11. + } { + This 2009 Act being necessary for
the immediate preservation of the public peace, health and
safety, an emergency is declared to exist, and this 2009 Act
takes effect on its passage. + } ' .
----------