POLK COUNTY -- Distressed homeowners in Polk County can now apply for the Loan Preservation Assistance program, the latest assistance program offered by the Oregon Homeownership Stabilization Initiative (OHSI).
The loan assistance program is designed to help homeowners recovering from a financial hardship, but have past-due payments and are in danger of foreclosure.
The program will pay off past-due payments and fees to bring mortgages current, helping homeowners avoid foreclosure. For qualified homeowners, a one-time payment up to a maximum of $20,000 will be sent directly to mortgage lenders.
Homeowners have opportunities to apply for the program every two weeks on Wednesdays at noon. Check the program website at www.oregonhomeownerhelp.org for an availability schedule. The OHSI website provides information about the application process, including a how-to video answering common questions about the program. An eligibility questionnaire also is available.
Those without Internet access or needing further assistance can contact the Polk Community Development Corporation office, 657 Main St., Dallas, or call 503-831-3173 or 503-986-2025.
"We are very happy to help our neighbors avoid foreclosure," said Rita Grady, the Polk CDC executive director. "We are here to assist homeowners through the application process, answer questions and most importantly listen."