Oregon REALTORS® Protect Sellers in Distress
The Senate unanimously passed HB 2916-Enrolled, which will preclude further collection on deficiencies in a short sale when a 1099-C issued in connection with the sale. As one of the top legislative priorities of the Oregon REALTORS®, this legislation will protect sellers by eliminating the current uncertainty that is inherent in the short sale process. It will reduce the amount of time it takes to sell property and the number of foreclosures in communities throughout Oregon. After passing the House of Representatives earlier in the 2011 Legislative session, HB 2916-Enrolled is now expected to be signed into law by Governor Kitzhaber.
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