Federal Resources to help Oregon Homeowners, Feb. 23

The U.S. Department of Treasury has announced that Oregon will receive $36.4 million to help homeowners struggling to avoid foreclosure as part of an expansion of the federal Hardest Hit Fund program: https://www.treasury.gov/press-center/press-releases/Pages/jl0358.aspx. In 2010, the State of Oregon received an earlier allocation of $220 million, and spent those resources helping Oregonians affected by the recession to stay in their homes. “We know that foreclosure has and continues to affect homeowners across Oregon for many years. Together, with community partners, the Hardest Hit Fund program has had a significant and positive impact on Oregon’s communities,” said Margaret Van Vliet, Director of Oregon Housing and Community Services. “We look forward to helping more homeowners with the additional resources provided by the U.S. Department of Treasury.” Since receiving the initial allocation of $220 million, Oregon has helped more than 11,770 homeowners. Ninety-five percent of homeowners have remained in their homes twenty-four months after receiving assistance. More information will be available in the coming weeks regarding availability of these funds.