Mortgage Foreclosure Prevention

Home Rescue Program

The Home Rescue program is designed to help homeowners who are struggling to pay their mortgage. Home Rescue can provide up to one year of mortgage payments, with a maximum benefit of $20,000, and if needed, up to $15,000 in funds to bring the loan current.

Use the link below to guide you through the application process.
www.oregonhomeownerhelp.org

Principal Reduction and Lien Extirogram

The Principal Reduction and Lien Extinguishment (PR/LE) program is designed for homeowners who are on a fixed income and struggling to make their mortgage payment. The program will pay up to $50,000 to reduce the unpaid principal balance of the mortgage so that the loan may be re-amortized resulting in a sustainable lower monthly payment.

NOTE: The benefit is provided in the form of a no-interest, five-year forgivable loan for which a lien will be recorded against the property. http://www.oregonhomeownerhelp.org

Preservation Benefit

The Preservation Benefit is designed to help homeowners who can afford their mortgage payment but are behind on their first lien mortgage due to a financial hardship. To fully reinstate the account, this program can provide a maximum benefit of $40,000 paid directly to the mortgage servicer.

Use the link below to guide you through the application process.

NOTE: The benefit is provided in the form of a no-interest, five-year forgivable loan for which a lien will be recorded against the property.
www.oregonhomeownerhelp.org

Property Tax Benefit

This program is designed to assist homeowners who own their homes outright (no mortgage liens on the property) and have fallen behind on their county property taxes due to a hardship but can afford their taxes going forward. To fully reinstate the property tax account, this program can provide a maximum benefit up to $40,000, paid directly to the county tax authority.

Use the link below to guide you through the application process.

NOTE: The benefit is provided in the form of a no-interest, five-year forgivable loan for which a lien will be recorded against the property.
www.oregonhomeownerhelp.org

Reverse Mortgage Benefit

The Reverse Mortgage Benefit is for homeowners with a Home Equity Conversion Mortgage (HECM) that is behind due to charges¬ (including taxes, insurance and homeowner association fees) advanced by their lender. To fully reinstate the account, this program can provide a maximum benefit up to $40,000, paid directly to the reverse mortgage servicer.

Use the link below to guide you through the application process.

NOTE: The benefit is provided in the form of a no-interest, five-year forgivable loan for which a lien will be recorded against the property.
www.oregonhomeownerhelp.org

Foreclosure Prevention

If you are looking for ways to save your home, or struggling to make your mortgage payment, you don’t have to face it alone. Free home foreclosure help is available to homeowners statewide. A certified foreclosure counselor can help you understand your options and see what’s possible.
For more information on Foreclosure Prevention Resources: http://www.oregonhomeownersupport.gov/

Additional Resources

HUD Office of Fair Housing and Equal Opportunity
Oregon Housing & Community Services Homeownership Resources