Federal government makes Lane County mortgage payments

The federal government is making a year’s worth of mortgage payments for about 500 Lane County families.

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The federal government is making a year’s worth of mortgage payments for about 500 Lane County families.

The U.S. Treasury gave Oregon $100 million to help unemployed or under­employed households, because the state was deemed among those hardest hit by the recession.

The 12 months of mortgage payments are meant to give participating home­owners breathing room to find new jobs, do a short sale, pay off debt, negotiate lower mortgage payments or otherwise prepare themselves to resume their mortgage payments when the year is done.

To qualify, homeowners had to prove that they lost at least 25 percent of their income because of job losses or wage cuts.

Read more at The Register-Guard.

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