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Mortgage Payments Forborne Under the CARES Act? A Supplemental Proof of Claim May Be Needed if Your Borrower is in Bankruptcy
Over the last year, mortgage servicers have granted forbearances for certain loans pursuant to provisions enacted in the Coronavirus Aid, Relief, and Economic Security (CARES) Act. When the affected borrower is in bankruptcy, servicers should be awar...
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Oregon Governor Issues Executive Order Related to Foreclosure Moratorium
On December 17, 2020, Governor Kate Brown issued an executive order related to Oregon’s foreclosure moratorium (HB 4204). Under Executive Order 20-67 (EO 20-67), Governor Brown determined that a state of emergency continues to exists in the State of...
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Expanded Bankruptcy Subchapter V Eligibility for Small Business Debtors Extended for Another Year
On March 27, 2021, the COVID-19 Bankruptcy Relief Extension Act of 2021 was signed into law. This legislation extends the increased debt limit for small businesses to be eligible to reorganize under subchapter V of the Bankruptcy Code. While the incr...
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HB 2009 Moves to Floor Vote
On March 24, 2021, the Oregon House Committee on Banking and Labor voted to advance House Bill 2009 (HB 2009) to a floor vote. As detailed in our prior write-up of the Bill, HB 2009 would extend Oregon’s foreclosure moratorium for certain loans throu...
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Oregon Legislature Introduces New Foreclosure Moratorium Bill (HB 2009)
On February 9, 2021, the Oregon House introduced a second foreclosure moratorium bill related to COVID-19. Known as House Bill 2009 (HB 2009), the new legislation would extend Oregon’s now-expired foreclosure moratorium during an extended “emergency...
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More COVID Relief in Sight as Congress Amends the Paycheck Protection Program
The “Consolidated Appropriations Act, 2021” (CAA), which includes provisions designed to mitigate the ongoing economic fallout of COVID-19, became law on December 27, 2020. While most of the public’s attention is on other of the CAA ’s benefits —li...
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