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Program Update:
US Treasury Gives Oregon Another $50 million for Foreclosure Prevention Assistance
The U.S. Department of Treasury announced Wednesday, Aug. 11 that Oregon will receive another $50 million in Hardest Hit funding for foreclosure prevention activities.
On Aug. 4, Treasury approved Oregon’s plans for four new foreclosure prevention programs using the first $88 million. OHCS is working with Treasury on how to best allocate the additional $50 million.
This is an important step in getting help to Oregon homeowners who face losing their homes as a result of the current recession.
OHCS expects to have the programs up and running by the end of 2010.
Act Now!
If you can’t make your mortgage payment, pick up the phone now and call SAFENET (1-800-723-3638) or the HOPE hotline 1-888-995-HOPE (4673) to get information you need to help you avoid foreclosure.
Help is free.
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Helpful Links:
Are you Facing Foreclosure?
Oregonians who need assistance with their mortgage should contact a foreclosure counselor.
Call 1-800-SAFENET.
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Contract and Procurement Opportunities:
RFP #HHF101
Oregon Homeownership Stabilization Initiative:
Loan Refinancing Pilot Project for Deschutes and Jackson County Oregon
Due Date: September 15, 2010
Due Time: 5:00 PM PDT
 Download RFP Description
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Get Updated Information
For information, sign up to receive our E-Newsletter for program updates or call 1-800-453-5511.
About the Programs
Oregon will receive $88 million to help families avoid foreclosure and stay in their homes. Oregon will offer four programs:
- Loan Modification Assistance will help homeowners who are on the verge of successfully modifying their existing mortgages but require a small amount of additional financial resources to do so.
- Mortgage Payment Assistance will help economically distressed homeowners pay their mortgages for up to one year.
- Loan Preservation Assistance will provide financial resources that a homeowner may need to modify a loan, pay arrearages, or clear other significant financial penalties after a period of unemployment or loss of income.
- Transitional Assistance will help homeowners who do not regain employment during the period of Mortgage Payment Assistance with the resources needed to move to affordable, most likely rental, homes.
OHCS will continue to work with Treasury to create a fifth program that will provide additional assistance and options for Oregon residents hard hit by declining home values in Jackson and Deschutes counties.
Sign up to receive E-newsletter with program updates or call 1-800-453-5511.
News Releases:
Oregon Receives Another Round of Foreclosure Prevention Assistance
Salem, OR (August 11, 2010) - U.S. Treasury announced on Wednesday that Oregon will receive another $50 million in “Hardest Hit” funds for foreclosure prevention activities.
Oregon Housing Agency Receives Approval for Foreclosure Prevention Programs
Salem, OR (August 4, 2010) - The U.S. Department of Treasury approved Oregon's plans for four new foreclosure prevention programs today.
Oregon Homeownership Stabilization Initiative Division Administrator Hired
Salem, OR (July 19, 2010) - Oregon Housing and Community Services Director Victor Merced has appointed Michael Kaplan as Oregon Homeownership Stabilization Initiative Division Administrator.
Oregon Housing Agency Submits $88 million funding proposal to US Treasury
Salem, Oregon (June 1, 2010) - Oregon Housing and Community Services (OHCS) submitted a proposal for review......
Oregon Housing Agency Requests Homeowner Input on Foreclosure Prevention Strategies
Salem, Oregon (May 4, 2010) - Oregon Housing and Community Services (OHCS) will hold a series of forums throughout the state...
Oregon to receive up to $88 million to help prevent foreclosures and keep families in their homes
Salem, Oregon (March 31, 2010) - The Obama Administration announced Monday that Oregon will receive as much as $88 million to support innovative measures to help families stay in their homes or otherwise avoid foreclosure.
OHCS Director's Messages:
August 13, 2010
NFMC Update, Weatherization, NSP Updates, Oregon Receives $50 million more for Foreclosure Prevention Assistance
August 9, 2010
Treasury Approves Oregon Homeownership Stabilization Initiative, OHCS Partners with County Agencies for HUD Grant, Arbor Glen
July 15, 2010
Oregon’s Foreclosure Rate Increases, Oregon Housing Stabilization Initiative Update, Changes to CDBG, Affordable Housing Successes, and Mortgage Rates Drop
April 20, 2010
Hardest Hit Fund now Oregon Homeownership Stabilization Initiative, Project tackles the costs of reporting and compliance, and Manufactured Dwelling Park Purchase Program now accepting applications
April 2, 2010
Helping Oregonians Avoid Foreclosure
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