This was originally published on our blog, Bank Law Monitor. 

In an effort to provide relief to homeowners, businesses, landlords, and tenants affected by COVID-19, Governor Brown signed two bills that impose significant limitations on lenders and landlords. Under HB 4204, lenders cannot foreclose on loans secured by real estate in Oregon and must defer payments for borrowers on those loans who are unable to pay because of loss of income due to COVID-19. HB 4204 may provide some relief to landlords that, under HB 4213, are prohibited from taking specified eviction and termination actions based on tenants’ nonpayment. Lenders and landlords should be aware of the important requirements and limitations created by the new bills and how these bills affect their current practices.