ORS 646A.702
Definitions for ORS 646A.702 to 646A.720
(1)
“Default” means having one or more homeowner obligations in arrears to an extent that a notice of default could properly be recorded against the residence.(2)
“Family” means a spouse, domestic partner, parent, stepparent, grandparent, child, stepchild, grandchild, sibling, aunt, uncle, cousin or in-law.(3)
“Foreclosure consultant,” except as provided in ORS 646A.705 (Persons that are not foreclosure consultants), means a person that directly or through association with another makes a solicitation, representation or offer to a homeowner to perform, for or with the intent to receive compensation from or on behalf of the homeowner, a service that the solicitation, representation or offer indicates will accomplish one or more of the following:(a)
Prevent, postpone or stop a foreclosure sale.(b)
Obtain a forbearance from a beneficiary or mortgagee.(c)
Assist the homeowner in exercising a right of redemption.(d)
Obtain an extension of the period within which the homeowner may reinstate the homeowner’s obligation.(e)
Obtain the waiver of an acceleration clause that is:(A)
Contained in a promissory note or contract; and(B)
Secured by or contained in a deed of trust for, or mortgage on, a residence in foreclosure or in default.(f)
Assist the homeowner in obtaining a loan or advance of funds.(g)
Avoid or ameliorate an impairment of the homeowner’s credit resulting from a recorded notice of foreclosure or default.(4)
“Foreclosure consulting contract” means an agreement between a foreclosure consultant and a homeowner for the provision of services by a foreclosure consultant in regard to a residence in foreclosure or in default.(5)
“Homeowner” means the record owner of a residence.(6)
“Residence in foreclosure” means residential real property:(a)
Consisting of one to four single-family dwelling units;(b)
On which the owner occupies a dwelling unit; and(c)
Against which a notice of default has been recorded. [2008 c.19 §2]
Source:
Section 646A.702 — Definitions for ORS 646A.702 to 646A.720, https://www.oregonlegislature.gov/bills_laws/ors/ors646A.html.
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