As of Tuesday, April 10, 2018
SALEM — Oregon Housing and Community Services announced foreclosure two foreclosure prevention program, “Home Rescue” and “Loan Preservation Assistance” are available to Polk County residents.
The Home Rescue program helps homeowners struggling to pay their mortgage.
The program can provide one year of monthly mortgage payments, with a maximum benefit of $20,000 — and a reinstatement payment to bring mortgages current, up to $15,000.
The Loan Preservation Assistance program helps homeowners who have recovered from a financial hardship, but are still at risk for foreclosure, with a one-time payment to bring the mortgage current.
The program as a maximum benefit of $40,000.
Homeowners interested in the program may apply online at www.OregonHomeownerHelp.org or contact Kelli Burnham at Polk Community Development Corporation for more information or assistance with the online application process.
Burnham can be reached at 503-831-3173 or firstname.lastname@example.org.
Funding for Home Rescue is through the United State Treasury’s “Hardest Hit Fund,” which allocated $220 million to Oregon in 2010, and an additional $94.5 million in 2016 to administer foreclosure prevention programs.