NeighborImpact receives major grant to help keep Central Oregonians in their homes

Meyer Memorial Trust funds help for low-income homeowners

REDMOND, Ore. (KTVZ) - Nearly half of Central Oregonians are housing cost-burdened: They spend more than 30% of their income on housing expenses. This financial vulnerability puts households at greater risk for bankruptcy or foreclosure.

A $198,000 grant recently awarded to NeighborImpact by Meyer Memorial Trust will help support housing retention for low-income homeowners by providing post-purchase counseling and foreclosure prevention services to Central Oregon residents, the organization said Wednesday.

NeighborImpact's HomeSouce program will provide financial coaching or counseling, working with homeowners to supplement mortgage payments through loan modifications, forbearances and other workout options. Counselors will determine the specifics of all available options with lenders and help to implement them as early as possible.

That process involves education, early detection of delinquency, providing financial training and supporting clients' negotiation with lenders. Counselors will consider different households' cases according to their unique circumstances. Unique scenarios present opportunities for creative solutions to avoid foreclosure or exit with dignity.

A home is often a family's most valuable possession, and preventing foreclosure keeps residents in their homes, preserves communities, prevents homelessness and increases children's safety, self-esteem and educational outcomes.

The program targets low-income households (under 80% Area Median Income) subject to foreclosure, prioritizing persons over age 60. NeighborImpact has three certified Housing and Urban Development counselors on staff and also has the ability to provide counseling services remotely.

NeighborImpact said it thanks Meyer Memorial Trust for their support of preventing houselessness and foreclosure in Central Oregon.

For more information or to fill out an intake form, visit https://www.neighborimpact.org/homeowner-help/foreclosure-prevention-mediation/

About NeighborImpact: NeighborImpact is a private non-profit governed by a board of directors drawn from across the community.  Since 1985, NeighborImpact has led the region in developing solutions and bringing resources to Crook, Deschutes and Jefferson counties and the Confederated Tribes of Warm Springs. We help meet the basic needs of Central Oregonians, build economic security and create a community where everyone thrives. NeighborImpact receives federal, state and local grants, foundation grants and donations from individuals and businesses in our community. To learn more about NeighborImpact, visit www.neighborimpact.org.

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