Oregon leaders mobilized in attempts enact legislation multiple times over the last three years to combat the problem, and succeeded in their efforts in 2012 with the hard-fought win of SB 1552.

SB 1552 is a major victory over bank lobbyists who were determined to block foreclosure reform in Oregon. Despite their best efforts, the voice of the people won out. SB 1552 offers mediation to homeowners in foreclosure or underwater in their mortgages, giving them the opportunity to discuss foreclosure- avoidance measures with their bank and a neutral third party. 21 other

states already use mediation, with well-established programs resulting in foreclosure alternatives more than 50% of the time. This will go a long way toward solving Oregon’s ongoing foreclosure crisis. According to estimates by national experts, more than 10,000 Oregonians each year will be able to avoid foreclosure as a result of SB 1552. Another benefit Oregonians will see as a result of 1552 is the end of the dual track system, in which one arm of a lender actively negotiates a modification with a homeowner while a different arm simultaneously pursues foreclosure.

Oregonian’s can stay apprised of the latest developments on the implementation of SB 1552 by visiting the websites of the Oregon Department of Justice or Economic Fairness Oregon – www.doj.state.or.us, www.economicfairnessoregon.org.

SB 1552 Summary

• Mandatory Meeting with Underwater Homeowners – Requires lenders to meet with homeowners who are underwater in the presence of a third party mediator upon

• Mediation for Homeowners in Default – Prior to starting the foreclosure process, lenders must mediate with homeowners in default to negotiate possible alternatives to foreclosure, unless homeowner chooses to opt-out.

• Housing Counseling – Requires homeowner to visit a housing counselor prior to proceeding with mediation.

• Fast Track to Mediation – If the homeowner is unable to get an appointment with a housing counselor within 30 days, the housing counselor requirement is waived so the homeowner can proceed directly to mediation.

• Advance Notification – Notice of mediation must be sent 60 days prior to service of the notice of sale. The existing 120 day timeline from notice of sale to foreclosure sale remains.

• Authority to Negotiate – Banks must send someone to mediation with the authority to accept or reject proposals for foreclosure avoidance measures. If good cause is shown, the mediator may allow the lender’s representative to attend the mediation by phone or video. • Attorney General Oversight – Directs the Attorney General to draft rules and oversee the foreclosure mediation program.

• Costs – Lender and homeowner share the cost of mediation. Homeowner may be charged a fee of up to $200. Mediator may waive cost to homeowner.

• Exception for Small Lenders – Lenders doing fewer than 250 foreclosures a year (including those filed by affiliates or agents) are exempt from the mediation requirements.

• End to “Dual Tracking” – Prohibits all lenders from “dual tracking” homeowners (renegotiating loan terms with homeowners while at the same time pursuing foreclosure) by only allowing a lender to foreclose if: a. The borrower has violated a current foreclosure avoidance agreement, or; b. The borrower is not eligible for any foreclosure avoidance measure.

• Proper Notice – Once a lender has determined it can foreclose, it must provide the homeowner with notice 30 days before the foreclosure date is scheduled. A sale date may be postponed once for up to 2 days by announcement at the original sale date, or the lender must provide at least 15 days’ written notice of the new date.

• Enforcement –Prior to sale, the lender must record certification of compliance with mediation and the dual track provisions. Lack of this certification would create a cloud on the home’s title. Sanction for violation of the dual track provision is a $500 fine, actual damages, and reasonable attorney fees to the prevailing plaintiff.

• Effective Date – The bill has an emergency clause and takes effect on the 91st day after it is signed by the Governor.”

]]> http://www.northportlandattorney.com/sb-1552-foreclosure-reform-from-economic-fairness-of-oregon/feed 0 http://www.northportlandattorney.com/theresa-m-kohlhoff-is-an-avvo-rated-attorney http://www.northportlandattorney.com/theresa-m-kohlhoff-is-an-avvo-rated-attorney#comments Mon, 26 Mar 2012 14:42:16 +0000 admin http://www.northportlandattorney.com/?p=336 This means that she is “widely recognized by the legal community for professional conduct and experience.”

What happens is this- in the most common cases a person is in an auto collision, or has vehicle damage where the value of the entire case is less than $10,000.  Given what juries are awarding these days, many cases fall into this realm.  A demand must be sent both to the driver of the at-fault vehicle and their insurance company.  I send medical records and billings to the insurance company only.  Then we wait for 30 days.  If the insurance company comes in with a decent offer, then we settle and it’s a contingent fee.  But, if the insurance company comes in with a lower offer than we (attorney and client) think the case is worth, we file the case.  Defendant must beat that offer at arbitration or trial, or risk paying attorney fees from the date the client walked into the office.  The client then receives the entire award or judgment.

This statute is intended to settle the “small” cases in Oregon because the defendant could take a very big hit on attorney fees.

If we decide to use this statute in your case you will receive alot of more information on ORS 20.080, it’s risks, it’s benefits, and whether it’s right for your case.

http://blogs.wsj.com/developments/2010/12/08/walking-away-from-your-home-a-live-chat-with-author-brent-white/

We charge charge $300 for a will.  If the will is mutually similar, for example if a married couple (or any couple) is giving the same items to eachother, then the two wills are $300.

Please contact our office for the will questionnaire.  This questionnaire will get you oriented to the type of decisions you need to make.  Please return the questionnaire with $300.  Only then can we begin drafting your will.

We will then send you a draft of your will.  If you have any questions, it’s best to for us to answer them then.

Next we schedule a will execution.  At that time you will need to bring in one witness (generally Elizabeth acts as one witness and Theresa as notary).  This witness cannot have taken in your will!  If you cannot find a friendly neighbor (or pastor or friend) then we can work on a time when there are other people in the office who can witness.

A will service can also contain an Advanced Directive and/or Power of Attorney.  These documents are not necessary to the will and can be found at Stevens-Ness Legal Publishing Co. at http://www.stevens-ness.com, 916 SW 4th Avenue, Portland, Oregon 97204, 503.223.3137.

Also, please consider attending our will seminars to get your general questions answered.  We look forward to meeting you!

Super Lawyers, a Thomson Reuters business, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement.  The annual selections are made using a rigorous multi-phashed process that includes a statewide survey of lawyers, an independent research evaluation of candidates, and peer reviews by practice area.

Elizabeth E. Welch is co-founder and partner of Kohlhoff & Welch, Oregon’s first exclusively mother-daughter firm, which was opened in 2006 with attorney Theresa Kohlhoff. A determined advocate, Welch represents injured clients in car accidents, falls, or injuries caused by third parties at work. Kohlhoff & Welch also handles family law, real estate, wills, and probate. After nine years of professional experience as a legal secretary and paralegal, she graduated from Lewis & Clark Law School in 2004 and became a member of the Oregon State Bar in 2006. Involvement in both professional and community organizations continues to be a focus for Welch, the mother of two daughters. She is a board member for the Oregon Trial Lawyers Association and Vice President of North Portland’s Peninsula K-8 PTA