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Mortgages

There is a foreclosure moratorium in Oregon until Dec. 31, 2021.

It is important to notify your mortgage lender or servicer if you cannot make regular monthly payments because of a COVID-19-related loss of income.

Review the frequently asked questions below and the division’s step-by-step emergency guide to handle mortgage issues caused by COVID-19.

To learn more about the types of foreclosure and help that is available, visit the division’s Help avoiding foreclosure page.

If you have questions about your mortgage, contact your mortgage servicer.

If you have questions or need to file a complaint on a financial services company or professional, contact the division’s advocacy team at 888-877-4894 (toll-free) or email dfr.financialserviceshelp@oregon.gov.

House Bill 2009 of the 2021 legislative session provides relief to residential homeowners who have mortgage loans that are not covered by federal regulations.

The prohibition prevents foreclosures and forfeitures from Dec. 31, 2020 to Dec. 31, 2021. To qualify, a homeowner must notify their lender or servicer that the payments cannot be made due to the COVID-19 pandemic.​​

The Consumer Financial Protection Bureau has established temporary special protections to help borrowers explore mortgage relief options, including loan modifications and selling their homes, before facing foreclosure.

These protections, in place Aug. 31, 2021 through Dec. 31, 2021, cover loans on primary residences and applies to all mortgage loans, including privately held mortgage loans.

Generally, borrowers will have at least three options to avoid a potential foreclosure:

  1. Resume regular mortgage payments
  2. Lower monthly payments
  3. Sell the home

The bureau offers extensive consumer resources, such as how to contact HUD-approved housing counselors. Visit ​consumerfinance.gov/housing.

Contact your mortgage servicer as soon as possible to discuss what options may be available to avoid foreclosure

​The Coronavirus Aid Relief and Economic Security (CARES) Act protects homeowners with federally backed mortgages facing financial difficulties resulting directly or indirectly from COVID-19. These protections include:

  • The right to obtain a temporary reduction or a postponement (forbearance) of loan payments for up to 180 days
  • The right to extend the forbearance plan for another 180 days, following the homeowners’ request
  • Not reporting to credit reporting agencies as delinquent any temporary suspension or reduction of loan payments during the emergency declaration
  • No late fees, additional charges, or changes in the terms of the loan are permitted while loans are in a forbearance plan
  • For federally backed loans, lenders or loan servicers may not foreclose until Dec. 31, 2021
  • For loans backed by Fannie Mae or Freddie Mac, lenders cannot foreclose until Dec. 31​, 2021

Homeowners do not have to provide documentation to benefit from a forbearance plan, but they must attest that their financial difficulties are a direct or indirect result of COVID-19. Follow your servicer’s instructions about requesting a forbearance.


There are several agencies and resources available to help you manage your mortgage and avoid foreclosure.

Nonprofit housing counseling agencies can help negotiate solutions or seek alternate options to avoid foreclosure. The counselors are certified by United States Department of Housing and Urban Development (HUD) and offer free, objective, and confidential services. Find a HUD-approved nonprofit housing counselor near you.

The Homeownership Preservation Foundation also provides free housing counseling. Speak to a HUD-certified counselor on the HOPE foreclosure hotline: 888-995-HOPE (4673).

The Oregon Legislature created the Oregon Foreclosure Avoidance Program to help struggling homeowners avoid foreclosure. Before starting a judicial or nonjudicial foreclosure, most lenders must request a resolution conference with a homeowner.


Contact your mortgage lender or loan servicer to discuss your options. The Division of Financial Regulation and the Consumer Financial Protection Bureau are encouraging lenders and financial service providers to actively help people and businesses affected by the pandemic. This includes offering loan forbearance, fee waivers, and other deferred payment options to its customers.

If you are able to secure a forbearance or another mortgage relief option, ask your lender or servicer to provide documentation confirming the details of the agreement.


​There is a foreclosure moratorium in Oregon until Dec. 31, 2021.

For federally backed mortgages, such as mortgages backed by Fannie Mae or Freddie Mac, your lender or loan servicer may not foreclose on your home until Dec. 31​, 2021.

For all other types of mortgages, the Oregon foreclosure moratorium is in place until Dec. 31​, 2021.

You must notify your lender or servicer that you cannot make the monthly payment because of a COVID-19 related loss of income.

Refer to the official announcements for more information:

​​

​A forbearance is when your mortgage servicer allows you to pause or reduce mortgage payments for a limited period of time. A forbearance does not erase the payments you owe, and the payments will need to repaid in the future.

If your loan is federally backed, you do not have to make a lump-sum payment at the end of the forbearance plan. Your servicer may have other repayment plans available to you.

See the step-by-step guide to review some of those option


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