OAR 274-045-0125: Rental

The Director may approve the rental of a security, that has been occupied by the veteran. The Director, when determining whether to approve the rental of a home that serves as security for an ODVA loan, may consider the following factors including but not limited to the following: (1) The effect on the tax-exempt status of bonds issued under Article XI-A of the Oregon Constitution. (2) Whether the home was and is appropriately used as the principal residence of the borrower(s). (3) The financial integrity of the loan program. (4) Any potential decreases in the value of the security. (5) The impact on remedies available under the loan documents. (6) Whether or not there has been or will be any material change in the borrower’s/spouse’s employment. (7) The dissolution or annulment of the borrower’s marriage. (8) A significant geographical relocation by the borrower. (9) Any unusual hardship for the borrower(s). (10) The borrower(s) ability to maintain the home as his/her principal residence. [Publications: Publications referenced are available from the agency.]