SALEM, Ore. – The state will offer a new foreclosure prevention program to help struggling homeowners to make their payments.
Starting Wednesday, the Home Rescue Program will provide up to a year of monthly mortgage assistance with a maximum benefit of $20,000. Program participants are also eligible for up to $10,000 to bring their mortgage current if they are behind.
To be eligible for the program, homeowners must meet income qualifications, such as a 10-percent loss in current income. Applicants do not need to be behind on their loan.
New application slots will be available at 12 p.m. on Wednesdays every two weeks. More information on the application cycle can be found here.