Oregon Statutes 407.327 – Department to prescribe fixed or variable interest rates
Current as of: 2023 | Check for updates
|
Other versions
(1) The Department of Veterans’ Affairs may prescribe fixed or variable rates on the following:
Terms Used In Oregon Statutes 407.327
- Acquisition: means the purchase, improvement or refinancing of a home or farm or the payment of down payments or closing costs for such purposes. See Oregon Statutes 407.085
- Contract: A legal written agreement that becomes binding when signed.
(a) Loans or purchase contracts made after September 27, 1987, for acquisition of homes or farms.
(b) Obligations on loans or purchase contracts made on or before September 27, 1987, where ownership of the property subject to the loan or purchase contract is transferred after September 27, 1987.
(2) The department may modify loan agreements or purchase contracts made before September 27, 1987, by changing fixed interest rates to variable or variable interest rates to fixed, if all the parties to such loan agreements or contracts agree in writing to such modification. [1987 c.221 11,12; 2005 c.625 § 37]
[Repealed by 1981 c.660 § 18]