Oregon Statutes - Chapter 86 - Mortgages; Trust Deeds - Section 86.265 - Effect of lender violation of ORS 86.205 to 86.275.

A violation of ORS 86.205 to 86.275 by a lender shall render the lender’s security protection provision voidable at the option of the borrower, and the lender shall be liable to the borrower in an amount equal to:

(1) The borrower’s actual damages or $100, whichever is greater, and

(2) In the case of any successful action to enforce the foregoing liability, the court costs of the action together with reasonable attorney fees at trial and on appeal as determined by the court if the court finds that written demand for the payment of the borrower’s claim was made on the lender not less than 10 days before the commencement of the action. No attorney fees shall be allowed to the borrower if the court finds that the lender tendered to the borrower, prior to the commencement of the action, an amount not less than the damages awarded to the borrower. [1975 c.337 §14; 1981 c.897 §19]

Section:  Previous  86.230  86.235  86.240  86.245  86.250  86.255  86.260  86.265  86.270  86.275  86.310  86.315  86.320  86.330  86.340  Next

Last modified: August 7, 2008