$95 million in program to help Oregonians keep their homes
Homeowners falling behind on property taxes or mortgage payments should visit www.OregonHomeownerHelp.org because they may qualify for help from a $95 million program, officials said Monday.
Help is available through the Oregon Homeownership Stabilization Initiative, which is run by the state of Oregon. A range of help is available, depending on a homeowner’s current situation and need.
“We strongly urge anyone who is struggling to make their mortgage or property tax payments to visit www.OregonHomeownerHelp.org to find out if they qualify for assistance,” the announcement said
Homeowners that have recovered from a hardship but are still behind on mortgage or property tax payments may be eligible for the Loan Preservation Assistance program. This program can bring mortgages, past due property taxes, and reverse mortgage accounts current with a maximum benefit of $40,000.
Homeowners can find out more and see if they qualify by visiting www.OregonHomeownerHelp.org and searching for Loan Preservation Assistance.
Oregonians struggling to make their monthly mortgage payments may qualify for the Home Rescue program. This program can provide homeowners with monthly mortgage payments for up to one year with a maximum benefit of $20,000. To qualify, applicants must be able to show that their income has been reduced by at least 10% compared to any tax year between 2009 and 2016.
Oregonians who have had their income substantially reduced in recent years should visit www.OregonHomeownerHelp.org to see if they qualify for the Home Rescue Program.
Funding for the Oregon Homeownership Stabilization Initiative is provided by the United States Treasury’s Hardest Hit Fund, which allocated $220 million to Oregon in 2010 and an additional $94.5 million in 2016 for the administration of foreclosure prevention programs. To date, OHSI has provided more than $230 million in assistance to more than 12,000 homeowners.
OHSI customer service can be reached via email at Homeowner.Help@oregon.gov or by phone at 503-986-2025. OHSI partners with local housing nonprofits throughout the state to provide program delivery.
