Mortgage help on the way

Struggling Oregon homeowners will get $88 million in federal mortgage aid.

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Oregon will receive $88 million in federal mortgage aid to help struggling homeowners.

The funds are reserved for states with high unemployment. A total of $600 million in aid funds will be distributed to Oregon, Rhode Island, North Carolina, South Carolina and Ohio.

“Oregon is number one for homelessness and number two or three for hunger. We’ve been one of the top contenders for unemployment. In terms of foreclosure starts, we’re in the top third of states,” said Lisa Joyce, spokeswoman for the Oregon Housing and Community Services agency, “So knowing that we are economically distressed was not a surprise.”

The federal government is leaving it to the states to decide exactly who will get the help and how it will be delivered, said Diana Farrell, deputy director of the National Economic Council. So the number of Oregonians who will get mortgage relief through the program is not yet known.

Read the full story at The Register-Guard.

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