Oregon Administrative Rules
Chapter 274 - DEPARTMENT OF VETERANS' AFFAIRS
Division 20 - VETERANS' LOANS
Section 274-020-0450 - Due on Sale
Universal Citation: OR Admin Rules 274-020-0450
Current through Register Vol. 63, No. 3, March 1, 2024
(1) By ORS 407.335(5) the Director has discretion to decide when a second sale or transfer of the property, or any part thereof, securing an ODVA loan, will cause the entire balance of the loan to be immediately due and payable.
(2) Effective with sales, or transfers of ownership, occurring after June 30, 1989, the Director will not declare the entire unpaid balance on any loan to be immediately due and payable because of a second sale, or transfer of ownership, of the property or any part thereof, securing the loan.
Stat. Auth.: ORS 406 & ORS 407
Stats. Implemented: ORS 407.335
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