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OR HB2846
Bill
Status
Failed
6/27/2025
Primary Sponsor
Paul Evans
Click for details
AI Summary
- Oregon Department of Veterans' Affairs must develop a program providing loan guarantees and credit guarantees to help qualified veterans refinance existing home mortgages on their primary residences
- Eligible veterans include those defined in ORS 408.225, Oregon National Guard members demobilized after more than 30 days of federal active duty, and Oregon resident reservists demobilized after more than 30 days of federal active duty
- Interest rates on guaranteed loans may not exceed 3% above the prime lending rate, and loan guarantees may not exceed 15 years
- Creates the Veterans Refinancing and Reintegration Services Fund in the State Treasury to pay claims on loan guarantees, with moneys continuously appropriated to the department
- Guarantee obligations do not constitute state debt; if fund has insufficient money, financial institutions may exercise rights against the loan security
Legislative Description
Relating to refinancing options for veterans.
Last Action
In committee upon adjournment.
6/27/2025
Committee Referrals
Housing and Homelessness1/17/2025
Full Bill Text
No bill text available