In late 2015, the U.S. Congress committed $1 billion in additional funding to the Hardest Hit Fund. In February 2016, U.S. Treasury announced Oregon's Homeowner Stabilization Initiative programs were awarded $95.4 million in additional funding to reopen their foreclosure prevention programs.
Beginning July 6th at noon homeowners can apply for the Home Rescue Program July 6th by visiting www.oregonhomeownerhelp.org. The program is designed to help Oregon homeowners avoid foreclosure by making their monthly mortgage payments for up to one year and by bringing the mortgage current.
- Homeowners may be eligible for up to 12 monthly payments up to $20,000 in mortgage payment assistance and up to $15,000 to bring their mortgage current. ($35,000 total maximum benefit)
- The Home Rescue Program will launch in Southern and Eastern Oregon on Wednesday, July 6th at 12:00 noon and will expand to additional counties every two weeks.
The program will benefit homeowners struggling to make their mortgage payments to avoid foreclosure. **Application slots are limited so homeowners should apply as soon as slots are available in their county. Slots will be available every two weeks on Wednesdays at noon until all program funds have been exhausted.