Oregon Homeowner Assistance Fund Portal Closes Dec. 20 to Avoid Overcommitting Funds

Portal Closes at Noon PST on December 20

Oregon Housing and Community Services (OHCS) announced on December 5, 2023 that the Oregon Homeowner Assistance Fund (HAF) application portal will stop accepting new applications at noon Pacific time on Wednesday, December 20, 2023. The decision was made to prevent the program from overcommitting its remaining balance as demand outpaced available funding.

Funding and Award Snapshot

The HAF program launched with $72 million allocated to Oregon homeowners. As of December 4, 2023, OHCS reported:

• 1,745 applications approved, totaling approximately $46.9 million
• More than $35 million already paid out to approved homeowners
• An average award of about $27,000
• 859 additional applications under review, projected at $23.2 million if approved
• Roughly $1.9 million in remaining uncommitted funds

Who Should Still Apply Before the Deadline

OHCS urged homeowners at imminent risk of displacement to submit applications before the December 20 cutoff. Priority categories include homeowners facing foreclosure, socially disadvantaged individuals as defined by the U.S. Treasury, and households meeting additional criteria posted on the HAF website.

"We're encouraging homeowners who are at imminent risk of housing displacement ... to apply for HAF assistance before noon Dec. 20," said Ryan Vanden Brink, Assistant Director of Homeowner Assistance Programs at OHCS. Vanden Brink cautioned that "although we are accepting new applications, there may not be enough funds for everyone."

Foreclosure Exception After Portal Closure

Homeowners already in active judicial foreclosure, or in nonjudicial foreclosure with a scheduled sale date, may still apply after December 20 through a certified housing counselor. If funds remain once pending applications are processed, HAF intake partners will be permitted to submit new applications on behalf of these homeowners, subject to availability.

Program Background and Context

HAF was established under the American Rescue Plan Act to help homeowners who suffered financial hardship due to the COVID-19 pandemic avoid foreclosure, displacement, and loss of utilities. In Oregon, the program has operated as a safety net for homeowners who lack viable loan workout options with their mortgage servicers.

OHCS noted that Oregon's current foreclosure rate of 0.16 percent (1,016 residential foreclosures as of August 2023) remains well below the 20-year state average of 1.03 percent, in part because of targeted relief programs like HAF.

Resources for Homeowners

Homeowners who miss the portal deadline or need additional help can still:

• Work with a HUD-certified housing counselor at no cost
• Contact their mortgage servicer directly about loss-mitigation options
• Report suspected fraud to the Consumer Financial Protection Bureau, the Oregon Department of Justice, or the U.S. Treasury Office of Inspector General

Applications submitted before the noon December 20, 2023 deadline will continue to be reviewed in the order received until the remaining funds are fully committed.