SPRINGFIELD, Ore. — Many Oregon homeowners getting unemployment benefits now have a greater chance at getting mortgage assistance.
Earlier this year, each county was given a certain number of slots to fill for assistance. The applications are now statewide, which means there are more opportunities to get help. Past studies have shown that the typical cost of a foreclosure to a community averages about $70,000.
“When you look at what the homeowner loses in savings, in what they have invested in the home. When you look at what the local government loses in tax revenue. When you look at the impact on value of houses around the home that was foreclosed,” said Emily Reiman, Neighborhood Economic Development Corporation OpportunityWorks Manager.
Qualified applicants get up to a year’s worth of mortgage payment assistance.
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