State To Wind Down Foreclosure Aid Program As Federal Funds Dwindle

Dated: April 30 2014

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Having spent most of the $220 million it received from the federal government for foreclosure aid programs, Oregon plans to wind down the biggest of them over the next two months.

The state's Home Rescue Program is designed to help laid off workers, or those who have seen their income drop for other reasons, stay in their homes by bringing them current on missed payments and making up to a year's worth of mortgage payments. It will continue to take applications through June.
Oregon Housing and Community Services, which oversees the state's foreclosure aid efforts, said versions of the program had helped more than 9,500 homeowners since 2011, to date committing a total of $120.6 million. The homeowners received an average of $10,219 in aid, and 94 percent were able to stay in their home for 24 months after entering the program.

The program could reach another 1,500 homeowners before it closes, the agency said. Read More Here...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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