Media Release
Sept. 12, 2014
Contact:
Omar Carrillo Tinajero, Neighborhood Partnerships
503.226.3001 x112
ocarrillo@NeighborhoodPartnerships.org
Sybil Hebb, Oregon Law Center
503-936-8959
shebb@oregonlawcenter.org
Advocates Ask Emergency Board To Fund Inundated Foreclosure Program
Housing advocates are asking the Oregon State Legislature’s Emergency Board for $1.182 million in additional funding for the Oregon Foreclosure Avoidance (OFA) Program.
Since January of 2013, new cases have come into the foreclosure avoidance mediation program at an average rate of 1,000 per month – far above projections. The additional funding will help more struggling homeowners in foreclosure continue to have access to non-profit community-based housing counselors through the end of the biennium.
The OFA Program, enacted in 2013 with Senate Bill 558, has substantially increased the number of homeowners who have been able to negotiate the terms of their foreclosure with financial institutions as well as the time it takes to complete the process.
“The most critical things to understand are: Oregon still has a foreclosure crisis, time is of the essence for homeowners who need counseling and we have a solution that works with the OFA Program,” says Emily Reiman, OpportunityWorks, Manager from NEDCO an Oregon nonprofit Community Development Corporation.
Foreclosure rates in Oregon, while improving, continue to plague homeowners as well as communities. In June of 2014, CoreLogic data indicates that more than 23,000 Oregonians are at least 90 days delinquent on their mortgage payments and more than 41,000 Oregonians are underwater.
If a homeowner is not able to access mediation counseling within a 30 day window, the homeowner must drop out of the process or move forward without the benefit of a counselor.
“Foreclosure is still a very real issue in Central Oregon and our customers are looking for solutions. The OFA program has allowed our clients to get answers and find resolution so that they can move on with their lives,” says Lynne McConnell, Associate Director of HomeSource and Assets at the nonprofit NeighborImpact.
The Emergency Board will decide on the additional funding during the September Legislative Days.
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The Oregon Housing Alliance brings together advocates, local governments, housing authorities, community development corporations, environmentalists, service providers, business interests and all others dedicated to increasing the resources available to meet our housing needs to support a common statewide legislative and policy agenda.
It is lead by the nonprofit Neighborhood Partnerships and supported by a diverse membership of leading organizations.
Photo credit Flicker Creative Commons /respres