· OR legislature · 2025R1

Relating to allowable claims of equity in a property that is subject to a reverse mortgage; declaring an emergency.

Digest: Lets a lender who gives a lump sum as the loan in a reverse mortgage get only that part of the total equity in the house to which the lump sum is equal at the time the lender gives the lump sum. (Flesch Readability Score: 61.4) Allows a lender that, in a reverse mortgage, provides a lump sum in exchange for…

Sponsor

Deb Patterson (D-OR)

Introduced

2025-01-13

Policy area

Finance and Financial Sector

Latest action

In committee upon adjournment.