Home Foreclosure Mortgage foreclosures may resume in Oregon on January 1

Mortgage foreclosures may resume in Oregon on January 1



Oregon homeowners who are behind on their mortgage payments may be evicted again starting Jan. 1 as the state’s moratorium on foreclosures expires, according to Oregon Housing and Community Services.

The state’s current moratorium expires on December 31, 2021.

A law passed in the 2021 legislative session gave Governor Kate Brown the ability to allow moratorium extensions, something she has done twice, most recently with an Aug. 16 executive order.

But the law does not allow the moratorium to be extended beyond calendar year 2021.

After Friday, those in arrears will have to catch up or negotiate with lenders to avoid foreclosure.

“With the end of the moratorium on foreclosures, now is a critical time for homeowners who need help taking advantage of other resources,” Brown said in a statement. “I urge homeowners who are at risk of being denied access to help as soon as possible. “

The state legislature approved the foreclosure break in 2020 and extended it again earlier this year.

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The CARES Act provided for withholding from mortgage payments for those who experienced financial hardship due to the pandemic for up to 180 days, with an additional 180 days upon request.

The state has allocated $ 90 million to a fund for owners who need help, and Oregon Housing and Community Services are accepting applications from homeowners who are at risk of being banned due to the COVID-19 pandemic.

Homeowners needing mortgage help in Marion or Polk counties can get help through DevNW nonprofit at devnw.org, call (503) -779-2680 or email [email protected].

“Everyone has a different mortgage and different financial situation, so changes and payment options will vary,” said Emily Reiman, CEO of DevNW.

Earlier in December, the state legislature extended the safe harbor period for tenants facing eviction pending state processing requests for emergency rental assistance and added funds to the program, which is expected to reopen for applications in mid-January. .

Bill Poehler covers Marion County for the Statesman Journal. Contact him at [email protected] or Twitter.com/bpoehler

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