ORS 86.756
Notice to grantor

  • requirements
  • additional forms
  • rules

(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 86.764 (Notice of sale for certain persons) 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 to all addresses on file with the sender for the grantor, including post office boxes. 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:
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: _________.
IF YOU DO NOT TAKE ACTION:
Date and time: _________, 2_____ at _________
Place: _________
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 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 _________.
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 to all addresses on file with the trustee for the occupant, including post office boxes.

(6)

Except as provided in ORS 408.515 (Information to be included with certain documents related to real property) (3), the information required under ORS 408.515 (Information to be included with certain documents related to real property) must be included with a notice under subsection (1) of this section. [Formerly 86.737; 2017 c.251 §5; 2019 c.405 §7]

Source: Section 86.756 — Notice to grantor; requirements; additional forms; rules, https://www.­oregonlegislature.­gov/bills_laws/ors/ors086.­html.

86.010
Nature of mortgagee’s interest 86.020
Covenant to pay money not implied 86.030
Absolute deed as a mortgage 86.040
Improvements on mortgaged lands 86.050
Payment of taxes and other charges by mortgagee 86.060
Assignment of mortgage 86.080
Record of assignment not notice to mortgagor 86.095
Acts not affecting priority of lien of credit instrument 86.100
Discharge of mortgage 86.110
Discharge of record by owner and holder of mortgage note who is not the mortgagee of record 86.120
Discharge of mortgage on real property 86.130
Discharge by foreign executors, administrators, conservators and guardians 86.140
Liability of mortgagee for failure to discharge mortgage 86.150
Loan agreements and promissory notes to state maximum prepayment privilege penalty 86.155
Priority of line of credit instrument as to certain advances 86.157
Action for residual debt after short sale of residential property 86.160
Definitions for ORS 86.160 to 86.185 86.165
Late charge 86.170
Prohibited mortgage provisions 86.175
Scope 86.180
ORS 86.160 to 86.185 not applicable to certain mortgagees 86.185
ORS 86.160 to 86.185 not applicable to certain loans 86.205
Definitions for ORS 86.205 to 86.275 86.210
Types of lender security protection provisions allowed 86.214
Application of ORS 86.210 and 86.245 to real estate loan agreements 86.240
Limit on amount required in security protection escrow account 86.245
Interest on security protection deposits 86.250
Service charge prohibited where interest required 86.255
Arrangements where security protection provisions not required 86.260
Payment of taxes where security protection provision required 86.265
Effect of lender violation of ORS 86.205 to 86.275 86.270
ORS 86.205 to 86.275 inapplicable to certain loan agreements 86.275
Severability 86.405
Secretary of State to furnish statement of mortgages filed before September 1, 1963 86.440
Discharge of mortgage recorded with county recording officer 86.460
Discharge of mortgage filed with Secretary of State 86.470
Discharge, assignment and foreclosure of mortgages on chattels registered and licensed by Department of Transportation 86.610
Power of financial institutions, fiduciaries and others to make loans secured by property insured by Federal Housing Administration 86.620
Investment of funds of financial institutions, fiduciaries and others in bonds and mortgages accepted by Federal Housing Administration, debentures issued thereby, and obligations of national mortgage associations 86.630
Eligibility of securities described in ORS 86.620 as security for deposits, investment or reserve of securities 86.640
Applicability of other laws requiring security or regulating loans and investments 86.705
Definitions for ORS 86.705 to 86.815 86.707
Additional definitions for ORS 86.726, 86.729, 86.732, 86.736, 86.741, 86.744 and 86.748 86.710
Trust deeds authorized to secure performance of obligation 86.713
Qualifications of trustee 86.715
Trust deed deemed to be mortgage on real property 86.720
Reconveyance upon performance 86.722
Correction of error concerning status or effect of trust deed 86.726
Resolution conference for foreclosure 86.729
Scheduling and notice for resolution conference 86.732
Attendance at resolution conference 86.736
Certificate of compliance 86.741
Attorney General duties and powers 86.744
Foreclosure Avoidance Fund 86.748
Determination of ineligibility for foreclosure avoidance measure 86.752
Foreclosure by advertisement and sale 86.756
Notice to grantor 86.761
Failure to give notice to grantor 86.764
Notice of sale for certain persons 86.767
Failure to give notice of sale 86.771
Contents of notice of sale 86.774
Service and publication of notice 86.778
Discontinuance of foreclosure proceedings after cure of default 86.782
Sale of property 86.786
Request for information from trustee 86.789
Information provided by trustee 86.794
Disposition of proceeds of sale 86.797
Effect of sale 86.800
Contents of trustee’s deed to purchaser 86.803
Recitals in trustee’s deed and certain affidavits as prima facie or conclusive evidence 86.806
Requests for copies of notice of default or notice of sale 86.809
Compensation of trustee 86.812
Impermissible conditions for approving short sale or sale of note 86.815
Time within which foreclosure must be commenced 86.990
Penalties
Green check means up to date. Up to date

Current through early 2024

§ 86.756’s source at oregon​.gov