October 2009 - Oregon receives $457,390 to support foreclosure prevention counseling
Salem – Oregon Housing and Community Services has been awarded $457,390 to support foreclosure prevention counseling throughout the state.
OHCS Director Victor Merced made the announcement: “Great news. Now we can reinvigorate our help to Oregonians who are having difficulty keeping their homes. This is very important for people fighting to stave off foreclosure.”
The much-needed boost will enable OHCS, which manages the mitigation money, to provide counseling to homeowners in danger of foreclosure. Counseling referrals are made through Oregon SafeNet, 1-800-723-3638.
The grant to support OHCS foreclosure intervention came from the National Foreclosure Mitigation Counseling Program. The initial funding was provided by Congress in the FY08 Consolidated Appropriations Act.
Additional funding was provided through the Housing and Economic Recovery Act of 2008 and the Omnibus Appropriations Act of 2009. The National Foreclosure Mitigation Counseling Program is administered through a competitive application process by NeighborWorks® America, within guidelines defined by Congressional legislation.
NeighborWorks® America is an independent, congressionally-chartered non-profit organization based in Washington, D.C., with a mission to provide access to sustainable homeownership and safe, affordable rental housing.
Earlier foreclosure mitigation awards to Oregon totaled $418,504, covering early 2008 through mid- 2009, when 1,514 persons were served. The mitigation counseling is conducted by counselors certified by the U.S. Department of Housing and Urban Development in workshops and housing centers under the auspices of OHCS.
Oregon Housing and Community Services is the state’s housing finance agency and community services program administrator. The department provides financial and program support to create and preserve opportunities for quality, affordable housing serving Oregonians of lower and moderate income, and administers federal and state antipoverty, homeless, energy assistance and community service programs. Go to www.ohcs.oregon.gov/
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Download directly from from the State of Oregon's Housing and Community Services web page |
Reasons for homeowners to stop making timely mortgage payments--
Job lass, sudden illness or medical emergency, death in the family, divorce/loss of a second income, excessive debt obligations, job demotion, inability to pay an adjustable interest rate or an unexpected major home maintenance expense
Foreclosure FAQ's
What if I owe more on my home than what I can sell it for?
A Short Sale is when the homeowner sells their home for less than what is owed on their loan and the lender accepts that amount as payment in full. This is a much better option for some homeowners because it affects their credit less severely
What is Loan Modification?
Loan Modification can be a change in the way mortgage payments are set up. Forbearance and/or a repayment plan may be ways to avoid foreclosure.
Are there ways to stop foreclosure?
Selling your home, a short sale or signing a deed-in-lieu of foreclosure are all ways to stop foreclosure
Is foreclosure the right decision for me?
everyone's situation is different. In some situations it IS the best solution, but there are many options and you should explore all of them in order to make the best decision for YOU.
Visit the State of Oregon Housing and Community Services website or send Kelly an email at HomeOwnerHelp@thekellygroup.net to discuss your situation We're here to help! |
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