Oregon homeowners who fell behind on mortgage payments because of financial hardships tied to the COVID-19 pandemic have only a few days left to apply for assistance through the state’s Homeowner Assistance Fund program.
The Oregon Housing and Community Services (OHCS) agency announced that it will close the Homeowner Assistance Fund (HAF) program to new applications at 8 a.m. on June 15 as available funding is nearly exhausted.
The program was reopened in February to provide relief for homeowners facing severe financial hardship resulting from the pandemic. Since then, demand for assistance has been strong, according to OHCS officials.
“We’ve received a tremendous response since we reopened the program earlier this year,” said Talia Kahn-Kravis, acting director of Homeownership at OHCS. “We encourage anyone who hasn’t applied to do so as soon as possible before funds run out.”
Applications are reviewed in the order they are completed, meaning OHCS must receive all required information from both the homeowner and their mortgage servicer before an application is considered complete. Officials cautioned that submitting an application does not guarantee funding, even for eligible applicants.
To qualify, homeowners must have a primary mortgage with a participating mortgage servicing company and be at least 90 days delinquent on their mortgage payments. Eligible applicants may receive up to $50,000 in grant funding to help bring their mortgage current, regardless of whether they have previously received assistance through the HAF program.
Funds are paid directly to mortgage servicers to reinstate qualifying mortgages and help homeowners avoid foreclosure.
Additional information about eligibility requirements and the application process is available through Oregon’s Homeowner Assistance Fund program website.
About the Author
Discover more from Right Now Oregon
Subscribe to get the latest posts sent to your email.
