C. Ore. man asks lawmakers to prevent foreclosures
Friday, June 10, 2011
BEND, Ore. (AP) -- A central Oregon man has told state lawmakers about his own struggle with foreclosure in hopes of helping others avoid losing their homes.
The Bulletin newspaper in Bend reports that 59-year-old Tim Collette says he got contradictory advice and the bank lost his files in a foreclosure.
Collette said he drew down his savings, thinking he was on track to keep his home, only to find out he would likely lose it and be left with an empty bank account.
Both state and federal lawmakers are working on consumer protection legislation to provide oversight and help people navigate the system as the number of foreclosures increase in Oregon.
Democratic U.S. Sen. Jeff Merkley shared Collette's story on the Senate floor Thursday, saying it's typical of one he's heard many times.
Information from: The Bulletin, http://www.bendbulletin.com