2019 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 086 - Mortgages; Trust Deeds
Section 86.707 - Additional definitions for ORS 86.726, 86.729, 86.732, 86.736, 86.741, 86.744 and 86.748.
As used in this section and ORS 86.726, 86.729, 86.732, 86.736, 86.741, 86.744 and 86.748:
(1) "Facilitator" means a person that a service provider selects to conduct a resolution conference.
(2) "Foreclosure avoidance measure" means an agreement between a beneficiary and a grantor that uses one or more of the following methods to modify an obligation that is secured by a residential trust deed:
(a) The beneficiary defers or forbears from collecting one or more payments due on the obligation.
(b) The beneficiary modifies, temporarily or permanently, the payment terms or other terms of the obligation.
(c) The beneficiary accepts a deed in lieu of foreclosure from the grantor.
(d) The grantor conducts a short sale.
(e) The beneficiary provides the grantor with other assistance that enables the grantor to avoid a foreclosure.
(3) "Housing counselor" means a counselor employed by a nonprofit housing counseling agency that the Housing and Community Services Department or a successor state agency approves.
(4) "Resolution conference" means a meeting at which a grantor and a beneficiary attempt to negotiate and agree upon a foreclosure avoidance measure.
(5) "Service provider" means a person that the Attorney General appoints under ORS 86.741 to coordinate a program to implement the provisions of ORS 86.726, 86.729, 86.732 and 86.736. [2012 c.112 §2; 2013 c.304 §7]
