Apply Now: Oregon Homeowner Assistance Fund Program Portal Reopens
OREGON – (Release from Oregon Housing and Community Services) In a significant move to assist homeowners facing financial hardships due to the pandemic, Oregon Housing and Community Services (OHCS) is set to reopen new applications for the Oregon Homeowner Assistance Fund (HAF) program. Starting at 10 a.m. on August 2, 2023, homeowners in need will have the opportunity to apply for federal temporary COVID-19 emergency mortgage relief provided by the program.
The primary objective of the HAF is to extend support to homeowners who have encountered severe financial challenges as a direct result of the pandemic. The program offers funding for past-due mortgages and other housing expenses, along with ongoing payment assistance. It is specially designed to cater to a limited number of homeowners with low to moderate incomes, ensuring that those most in need receive crucial aid during these difficult times.
Following a temporary pause that began on May 31, 2023, OHCS utilized the opportunity to assess and process existing applications in its queue. This pause enabled the agency to gain a better understanding of the available HAF funds and the number of eligible homeowners it can continue to support. As an exception during the pause, the program continued to serve the most at-risk homeowners who were actively facing foreclosure.
Upon its reopening, the HAF program will be tailored to focus on homeowners in active foreclosure and individuals traditionally underserved by mortgage markets. This approach aims to direct assistance to those facing the most immediate risk of losing their homes and ensures that support is extended to those who may have encountered barriers in accessing mortgage relief in the past.
Homeowners seeking relief can find detailed information about eligibility requirements and the application process on the program’s official website, oregonhomeownerassistance.org. Beginning at 10 a.m. on August 2, 2023, they will be able to apply online for the HAF program.
However, it is essential to note that HAF funding is limited. As such, the state is prioritizing Oregon households that are at the highest risk of foreclosure. With $72 million in funding available for homeowners, the program will remain open until these funds are exhausted. Consequently, eligible homeowners are urged to apply promptly to secure their chances of receiving assistance. It’s essential to recognize that even if a homeowner meets the eligibility criteria, there is no guarantee that their application will be funded. Therefore, it is crucial for homeowners to explore all available loss-mitigation options, depending on their specific mortgage and the services provided by their mortgage servicer.
By resuming the HAF program and offering targeted support to those most in need, Oregon Housing, and Community Services continues its commitment to providing vital assistance to homeowners affected by the pandemic. The program stands as a beacon of hope for struggling homeowners in Oregon, offering a lifeline to financial stability and housing security during these challenging times.
