Proposed Oregon Bill Would Extend COVID-19 Foreclosure Moratorium
April 6, 2021
Source: Associated Press
PORTLAND, Ore. (AP) — A measure that would reinstate and extend Oregon’s moratorium on foreclosures until Sept. 1 during the COVID-19 pandemic on Tuesday passed the state’s House of Representatives.
Unlike the bill that was passed by lawmakers last June, the new legislation would not protect commercial property owners — those who own more than five properties or properties with more than four housing units. The moratorium would be retroactive back to Dec. 3 and could be extended until the end of 2021 by the governor.
The latest bill, which passed in the House 38-21, moves to the state Senate.
“I assure you that Oregonians need this sort of protection. Without it, I fear that we face even more economic distress,” said Rep. Paul Holvey, a Democrat representing Eugene. “More Oregonians will become homeless if this bill does not pass.”
In March, more than 6% — or more than 65,000 Oregon homeowners — said they were not caught up on their mortgage payments, based on the United States Census Bureau’s most recent Household Pulse Survey.
Financial hardships during the COVID-19 pandemic have only exacerbated the state’s ongoing housing crisis and as a result has been a top priority for lawmakers, even prior to this legislative session.
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