Oregon passed a bill amending foreclosure complaint and Notice of Sale requirements under the judicial foreclosure process. Under the bill, a foreclosure complaint in a judicial foreclosure action involving a residential trust deed (1-to 4- family property occupied as the primary residence of the borrower or the borrower’s spouse or children) must include (as an attachment) a “notice to borrower”, warning the borrower of potential scams and providing the contact information for government agencies and nonprofit organizations that can provide help. The bill also requires that a Notice of Sale involving a residential trust deed include a Notice to Debtor, informing the borrower that they may have a right to surplus funds following a foreclosure sale. Oregon has mandated the exact language of the “notice to borrower” and the Notice to Debtor. The bill becomes effective January 1, 2020.
See Oregon State Legislature website for the full text of the Statue:
https://olis.leg.state.or.us/liz/2019R1/Downloads/MeasureDocument/SB11/Enrolled
