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Senate Bill 628 requires lenders to make a good faith effort to meet in person or on the phone with homeowners having problems making the month mortgage payment.
“What I hope will happen is there will be increased communication between the borrower, and the home owners who are facing foreclosure and their lenders” said Oregon Senator Suzanne Bonamici, who introduced the bill at the start of the 2009 legislative session.
Once a homeowner has received a foreclosure notice, they have 30 days to apply for a loan modification.
