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Frequently Asked Questions

 

In 2010, the US Department of Treasury awarded Oregon $220 Million in Troubled Asset Relief Program dollars for foreclosure prevention as part of the “hardest hit” program.

 

Oregon received this money because of high unemployment. Treasury gave Oregon the opportunity to design its own programs, to respond to the unique housing needs in the state, both rural and urban.

 

Based on broad community feedback The State of Oregon designed several programs, including:

  • Mortgage Payment Assistance – Mortgage Payment Assistance Unemployment program – now open for applications statewide. The Mortgage Payment Assistance Program assists unemployed or financially distressed homeowners by providing full monthly mortgage payments. The program makes up to 12 months of mortgage payments or $20,000, whichever comes first.
  • Loan Preservation Assistance – now open for applications statewide. The Loan Preservation Assistance program will assist homeowners who have regained employment or recovered from financial distress to ensure their home loans become, or remain, affordable. Program will pay up to $20,000 to cover past due payments or fees incurred during a period of unemployment or financial distress in order to bring their mortgage current. The program will serve as an exit path for recipients of Mortgage Payment Assistance.
  • Loan Refinancing Assistance Pilot Project – now open for applications in Crook, Deschutes, Jackson, Jefferson and Josephine counties only. The Loan Refinancing Assistance Pilot Project assists underwater homeowners in Crook, Deschutes, Jackson, Jefferson and Josephine counties who have regained employment or recovered from financial distress, and demonstrate the ability to afford a loan reflective of the current value of their home.

For more information about the national program, visit the US Department of Treasury website.

 

More than 6,000 Oregon homeowners have received assistance from programs offered through OHSI equaling over $70 million in funds dispensed. More than 3,000 slots were made available at the opening of the MPA-U program with openings still available. There are 2,000 openings available through the LPA program. Full reporting on all OHSI programs can be found on the Reporting page, updated quarterly.

The Mortgage Payment Assistance Unemployment program (MPA-U) makes one year of mortgage payments or $20,000, whichever comes first on behalf of homeowners who are receiving unemployment insurance benefits. Additional eligibility requirements also apply.

 

This program helps unemployed homeowners by sending mortgage payments directly to loan servicers for the full monthly amount due.

 

In addition to monthly mortgage payments, some participants may qualify for reinstatement of arrearages through the Oregon Homeownership Stabilization Initiative’s Loan Preservation Program.

 

Mortgage Payment Assistance is the largest OHSI program, funded at more than $125,000,000.

You will have to repay the MPA loan if you sell or refinance your home before the five-year forgiveness period ends and you have sufficient equity after you pay off your first mortgage.

To be eligible for MPA-U, a homeowner must:

  • Be receiving Unemployment Insurance at the time of application
  • Not be in active bankruptcy
  • Own no other residential property
  • Live in a single-family, detached dwelling
  • Have a loan serviced by a participating lender or servicer.

For a full list of eligibility criteria, take the MPA-U eligibility questionnaire.

No, a second mortgage or subsequent mortgages are not considered for assistance by OHSI. Only your first mortgage will be considered for assistance.

No. If you received any assistance from the first program, you are ineligible for MPA-U.

You may be eligible for the Loan Preservation Assistance program.

MPA-U makes no more than 12 total monthly mortgage payments and no more than $20,000 in total assistance. If you have received 12 payments, but not the full $20,000 in possible assistance, no further payments will be made.

Applications are open statewide on a two-week cycle. Slots fill up quickly so apply early in the cycle for the best chance to secure a slot. If all the slots are gone, you must wait for the next cycle to open.

 

The MPAU program is expected to have cycles open through January 2013. However the program may be available longer. The opening of slots is based on available funding and the program can close at any time.

 

Click here for more information about the application process and timelines.

Apply for the MPA-U program online at MPA-U program page.

Watch this short video to learn more about the application process.

One or more of the following reasons:

  • No more slots remain for the current application cycle. Try again at the beginning of the next cycle.
  • It is too late to start an application for the current cycle; try again at the beginning of the next cycle. See the schedule for the date the next cycle begins.
  • Your servicer has not enrolled in the MPA-U Program. Click here for a list of participating servicers.

No. OHSI is only able to provide assistance to homeowners with a participating servicer. A full list of participating servicers can be found on the Servicers page.

If your servicer has not enrolled, you can ask OHSI to contact your servicer about participation.

  • Send an e-mail to ohsi.payoffs@hcs.state.or.us with a subject line of "servicer enrollment."
  • Include the name and contact information of your servicer in your email message.

Keep in mind that servicers are under no obligation to participate in OHSI programs.

OHSI accepts and reviews applications on a cycle.

The process works as follows:

  1. The intake agency will review your application, to make sure it is complete.
  2. The intake agency submits all complete applications to OHSI.
  3. Homeowners will receive one of two email notices from OHSI, indicating either that the application is under review, OR that the application was incomplete.
  4. OHSI will complete an eligibility review, and will approve or deny applications.
  5. In the case of a denial, OHSI will notify the homeowner through mail delivery.
  6. For approved applications, an intake agency will contact approved applicants to sign loan documents.

Keep in mind that servicers are under no obligation to participate in OHSI programs and it can take up to 120 days to process your application to determine eligibility.

Homeowners who submit incomplete applications will lose their slot and have to start from the beginning in the next application cycle.

No. OHSI pays the monthly payment beginning the month after the homeowner signs the loan documents.

If you refinance your loan after submitting your application or while receiving assistance, you will not be eligible for assistance. Your eligibility for the program is determined based on the original loan you provide on your application. By refinancing you obtain a new loan. Also, by refinancing you demonstrate you can afford your monthly mortgage payment based on your income without OHSI assistance.

Each quarter, participants must:

  • Still be receiving Unemployment Insurance
  • Or
  • Not work more than 32 hours in at least 7 weeks of the prior calendar quarter (Jan-Mar; Apr-June; July-Sept; Oct-Dec)
  • Please note that electronic signatures on verification forms will not be accepted.

The Homeowner Education program is an online series of videos that helps OHSI program participants maximize their assistance. All enrolled participants must complete this series. The series reviews budgeting tips, credit repair, debt repayment strategies, savings planning, and other financial education topics.

Homeowners in a HAMP trial period cannot receive MPA-U payments until the trial period is complete. Homeowners must choose between completing the HAMP trial period and receiving mortgage payment assistance.

 

If you already have a permanent HAMP Modification, it will not conflict with your eligibility for the MPA program. If you have applied for HAMP, or are in a HAMP trial period, contact your servicer for more information.

 

The MPA program helps approved homeowners pay their mortgages for up to one year or $20,000, whichever comes first. The original MPA program was open for application from December, 2010 through January, 2011. More than 18,000 applications were received during that time. More than 4,500 homeowners have received assistance through the MPA program.

MPA makes no more than 12 total monthly mortgage payments and no more than $20,000 in total assistance. This means some homeowners will reach the maximum benefit in 12 months; others may reach that maximum sooner.

  • If OHSI made several payments at the beginning of assistance, to “catch up” homeowners as they entered the program.
  • If your monthly mortgage payment exceeds $1,666.

OHSI does not make partial mortgage payments. For example, if you have a $1,800 monthly payment, OHSI will make 11 payments, for a total of $19,800 in assistance. OHSI will not pay the remaining $200.

OHSI will send you a notice of termination. You must make your own mortgage payment beginning with the next payment. OHSI makes every effort to send notifications two weeks before the first of the month. However, timelines may be compressed.

 

If you do not know the number of payments OHSI has made, or if you do not know if OHSI made multiple payments for your mortgage, please contact customer service.

 

The customer service team can give you an up-to-date report of your payment history.

OHSI Customer Service:
Phone: 503.986.2025
E-Mail: homeowner.help@hcs.state.or.us

More than 4,500 homeowners have received assistance from the MPA program.

For more information about the people served through the Oregon Homeownership Stabilization Initiative, visit the Reporting page, which features OHSI’s quarterly reports to the United States Treasury.

No. OHSI pays the monthly payment beginning the month after the homeowner signs the loan documents.

To maintain eligibility, participants may not exceed 120 percent of state median income. OHSI evaluates income based on year-to-date information. Please note that electronic signatures on verification forms will not be accepted.

Household Size120% Median Income
1 Person $53,640
2 Persons $61,320
3 Persons $69,000
4 Persons $76,680
5 Persons $82,800
6 Persons $88,920
7 Persons $95,040
8 Persons $101,160

The Homeowner Education Program is an online series of videos that helps OHSI program participants maximize their assistance. All enrolled participants must complete this series. The series reviews budgeting tips, credit repair, debt repayment strategies, savings planning, and other financial education topics.

Homeowners in a HAMP trial period cannot receive MPA payments until the trial period is complete. Homeowners must choose between completing the HAMP trial period and receiving mortgage payment assistance.

If you already have a permanent HAMP Modification, it will not conflict with your eligibility for the MPA program. If you have applied for HAMP, or are in a HAMP trial period, contact your servicer for more information.

 

The Mortgage Payment Assistance (MPA) program provides a maximum of 12 months’ of mortgage payments or a $20,000 maximum dollar limit for enrolled homeowners. This month, you reached one of those limits

 

OHSI is no longer able to make your mortgage payment, beginning with the next scheduled monthly payment.

In total, the program provides just 12 months of assistance. In some cases, OHSI made 12 payments over the course of just a few months. In addition, you may have reached the maximum benefit limit of $20,000 in less than 12 months if your monthly mortgage payment was more than $1,666.

No. MPA-U is a 0 percent loan. OHSI forgives 20 percent of the balance each year until the balance owed reaches ZERO – in five years.

 

You will have to repay the MPA loan if you sell or refinance your home before the five-year forgiveness period ends and you have sufficient equity after you pay off your first mortgage.

You may qualify for reinstatement of your loan. OHSI will contact your servicer to see if you qualify for this assistance. If you are eligible, OHSI will schedule a one-time payment and will notify you if you are eligible. Your Intake Agency may contact you about the reinstatement process. Please act quickly if your intake agency contacts regarding an opportunity for reinstatement assistance.

Those who qualify for reinstatement will receive notice from the Intake Agency. MPA participants who do not qualify for reinstatement will receive a denial letter.

Like MPA, the reinstatement program is a loan. In addition, like MPA, you will sign a loan at your local intake agency.

OHSI will be offering additional programs in the coming months. The best way to keep informed is to check our website. We will continue to keep you on our email newsletter list, too, so you will hear more periodically.

Please contact one of the state’s HUD-Certified housing counselors.

 

All OHSI programs operate with federal money. We have a responsibility to the state and federal government to find out how well the programs worked.

Your response is not mandatory, but we really appreciate your feedback. It will help us a lot in informing us of areas we are doing well and areas we may need improvement. Providing good customer service is an important goal for OHSI and your feedback will help us in doing so.

No. We will only report the survey results in the “aggregate.” We are committed to protecting your privacy and the confidentiality of your personal information.

 

As homeowners leave the MPA program, the MPA Loan Reinstatement program may make a one-time payment to bring the mortgage current. An MPA Participant may qualify for this assistance, provided the OHSI receives a total reinstatement amount of $5,000 or less from a participant’s mortgage servicer.

 

The Reinstatement program assistance is a 0 percent loan, and OHSI forgives 20 percent of the balance each year until the balance owed reaches ZERO (after 5 years).

The MPA Reinstatement Program loan documents state that the maximum loan is $10,000. OHSI wrote the document to allow for potential increases in the reinstatement amount. This does not mean that OHSI will reinstate a loan for an amount greater than $5,000.

If you choose to have OHSI reinstate your mortgage now, you will not be eligible for any future reinstatement program OHSI may offer.

Denial letters describe your appeals process, if applicable.

 

If you have lost your letter, or your intake agency has told you that you have been denied but you do not have a letter, please contact OHSI at homeowner.help@hcs.state.or.us.

 

Please strongly consider seeking foreclosure counseling as soon as possible.

 

LRAPP works with homeowners in Crook, Deschutes, Jackson, Jefferson and Josephine counties who:

  • Have recovered from unemployment, underemployment.
  • Who have negative equity in their home, or are “underwater.” That is the current mortgage balance far exceeds the actual value of the home.
  • Have adequate income to support a mortgage that reflects the current value of their home and their current income.

The program is now available on a limited basis to homeowners in Crook, Deschutes, Jackson, Jefferson and Josephine counties with program slots opened at noon on the first business day of the month. Click here for more information about the application process.

 

The Loan Preservation Assistance (LPA) program is designed to help Oregon homeowners preserve or maintain their existing mortgage by paying off past due payments and fees in order to bring their mortgage current. This will help eliminate the immediate risk of foreclosure. Homeowners must be able to demonstrate their ability to sustain the mortgage payment if brought current.

 

For qualified applicants, a one-time payment for the total amount of past due payments and fees up to $20,000 the maximum dollar limit will be sent directly to their mortgage lender or servicer.

To be eligible for LPA, a homeowner must:

  • Not be in active bankruptcy.
  • Own no other residential property.
  • Live in a single-family, detached dwelling.
  • Have a loan serviced by a participating lender or servicer.

For a full list of eligibility criteria, take the LPA eligibility questionnaire.

No, a second mortgage or subsequent mortgages are not considered for assistance by OHSI. Only your first mortgage will be considered for assistance.

No, if you did receive assistance through the MPA or MPAU Loan Reinstatement program.

 

Yes, if you did not receive assistance through the MPA or MPAU Loan Reinstatement program.

MPA/MPAU participants who qualified for the Loan Reinstatement program received a notice from their Intake Agency.

 

MPA/MPAU participants who did not qualify for the Loan Reinstatement program should have received a denial letter.

No. OHSI is only able to provide assistance to homeowners with a participating servicer. A full list of participating servicers can be found on the Servicers page.

 

If your servicer has not enrolled, you can ask OHSI to contact your servicer about participation.

  • Send an e-mail to ohsi.payoffs@hcs.state.or.us with a subject line of "servicer enrollment."
  • Include the name and contact information of your servicer in your email message.

Keep in mind that servicers are under no obligation to participate in OHSI programs.

Homeowners in a HAMP trial period cannot receive an LPA payment until the trial period is complete. Homeowners must choose between completing the HAMP trial period and receiving loan preservation assistance.

 

If you already have a permanent HAMP Modification, it will not conflict with your eligibility for the LPA program. If you have applied for HAMP, or are in a HAMP trial period, contact your servicer for more information.

Applications are open statewide on a two-week cycle. Slots fill up quickly so apply early in the cycle for the best chance to secure a slot. If all slots are gone, you must wait for the next cycle to open.

 

The opening of LPA slots is based on available funding and the program can close at any time. Click here for more information about the application process and timelines.

Apply for the LPA program online at LPA program page.

 

Watch this video to learn more about the application process.

One or more of the following reasons:

  • No more slots remain for the current application cycle. Try again at the beginning of the next cycle.
  • It is too late to start an application for the current cycle; try again at the beginning of the next cycle. See the schedule for the date the next cycle begins.
  • Your servicer has not enrolled in the LPA Program. Click here for a list of participating servicers.

The application and gathering of supporting documents can take an hour or more. It really depends on variables that are unique to your situation.

 

It is a good idea to begin gathering supporting documents before applying for assistance. Please review the “How to Apply” video and LPA Submission Checklist to learn more about what supporting documents you will need to apply.

 

If you receive a slot you will have 10 days to complete your application.

The process works as follows:

  1. Applicant completes online application.
  2. Applicant gathers all supporting documentation.
  3. Applicant sends application and all supporting documentation to intake agency within 10 days.
  4. The intake agency will review your application to make sure it is complete.
  5. The intake agency will notify you if your application is accepted as complete.
  6. The intake agency submits all complete applications to OHSI.
  7. Homeowners will receive one of two email notices from OHSI, indicating either that the application is under review, OR that the application was incomplete.
  8. OHSI will complete an eligibility review, and will approve or deny applications.
  9. In the case of a denial, OHSI will notify the homeowner through mail delivery.
  10. For approved applications, an intake agency will contact approved applicants to sign loan documents.

Keep in mind the following:

  1. If you miss the deadline to submit your application and all supporting documentation, you will have to start from the beginning in the next application cycle.
  2. The deadline to submit your application is 10 days if you receive a slot.
  3. Servicers are under no obligation to participate in OHSI programs.
  4. It can take up to 120 days to process your application to determine eligibility.

Homeowners who submit incomplete applications or miss the deadline will not be evaluated.

 

Incomplete applications commonly occur when the applicant does not supply all the supporting documentation with their application.

Applicants will be notified by their intake agency if they have been accepted into the Loan Preservation Assistance program.

 

Once notified, you will need to sign your loan documents within 7 days of notification.

The payment will be made within a couple weeks. Participants will need to refer to their mortgage statement or contact their servicer to verify when the payment has been posted to their account.

A one-time payment is sent directly to your loan servicer for the full amount due up to $20,000 maximum dollar limit for enrolled homeowners.

You will have to repay the LPA loan if you sell or refinance your home before the five-year forgiveness period ends and you have sufficient equity after you pay off your first mortgage.

Since the LPA program provides a one-time payment, there is no requirement to participate in the Homeowner Education program.

 

The Rebuilding American Homeownership Assistance Pilot Program helps homeowners who are underwater on their mortgage to refinance their mortgage to either:

  • 15-year mortgage at 4% fixed interest, APR would be 4.129%
  • 30-year mortgage at 5% fixed interest, APR would be 5.077%

To be eligible for RAHAPP, a homeowner must:  

  • Not be in active bankruptcy
  • Own no other residential property 
  • Live in a single-family dwelling (Including condominiums and townhouses)
  • Be current on mortgage 
For a full list of eligibility criteria, take the RAHAPP eligibility questionnaire.

No. If you received assistance through the MPA, MPAU, MPAT, LPA or LRAPP programs, you are not eligible for RAHAPP.

The program is for statewide applications on March 3, 2014. Check out the RAHAPP page for more information about the application process.

To access the program application process information, please complete the RAHAPP eligibility questionnaire.

 

 

The only way to apply for OHSI assistance programs is through this website (OregonHomeownerHelp.org) website.

OHSI will be offering additional programs in the coming months. The best way to keep informed is to check this website. We will continue to keep you on our email newsletter list, too, so you will hear more periodically.

You will have to repay any assistance from OHSI if you sell or refinance your home before the five-year forgiveness period ends and you have sufficient equity after you pay off your first mortgage.

Yes. The lien will be removed once the 5-year forgiveness period is over.

No.

The forgiveness period begins on the first January after your benefit ends.

You can visit the Division of Finance and Corporate Securities (DFCS) website to locate HUD-approved Providers of Foreclosure Prevention Related Counseling in your area. Learn more »

OHSI does not report credit scores or payment activity to any credit bureau. If you fax a copy of your credit report to our secure fax system, we will reach out to your servicer on your behalf; however, your servicer is the only one that can modify your credit report. Our secure Fax number is 1.503.961.1556.

You should have received an Internal Revenue Service Form 1098 that reports the assistance you have received through the MPA program. If you didn’t get one, we can send you a copy.

The 1098 MA form will provide the MPA participant with the amount of MPA assistance provided by OHSI in 2011.

 

On February 23, 2011, the Internal Revenue Service issued Notice 2011-14. The notice states that benefits from the MPA program are excluded from income for federal tax purposes. It also outlines the proper method to deduct mortgage interest for federal tax purposes. For more information, contact your tax advisor or the Internal Revenue Service taxpayer help line: 1-800-829-1040

You can visit the www.oregon.gov Division of Finance and Corporate Securities (DFCS) website to locate HUD-approved Providers of Foreclosure Prevention Related Counseling in your area. Learn more »

For more information about how to identify and report a loan modification scam, visit the US Department of Housing and Urban Development (HUD) website and learn about the "Know it. Avoid it. Report it." program.

 

Oregon’s Attorney General operates a mortgage and foreclosure fraud program.

 

The Home Rescue Program helps unemployed and underemployed Oregon homeowners avoid foreclosure by providing up to 12 monthly mortgage payments or $20,000, whichever is used first. The program also brings delinquent mortgages current if homeowners are no more than $10,000 behind on their payments.

 

The program helps wage earner, self-employed and unemployed homeowners by sending full monthly mortgage payments directly to loan servicers. View a complete list of eligibility criteria here.

 

Because the loan is forgiven 20% each year for five years, you may have to repay the loan if you sell or refinance your home before the five-year forgiveness period ends and you have sufficient equity after you pay off your first mortgage.

To be eligible for the Home Rescue Program, homeowners must:

  • Currently earn less than 120% of state median income, based on household size 
  • Currently earn at least 10% less than they earned in in either 2011 or 2012 
  • Live in a one-unit, single-family dwelling (condos and townhomes are eligible) 
  • Have an unpaid principal balance less than their county’s FHA loan limit 
  • Not be in active bankruptcy 
  • Not own any other residential property 
For a full list of eligibility criteria, take the eligibility questionnaire.

The Oregon Homeownership Stabilization Initiative uses loan limits set by the Federal Housing Administration when reviewing applications. Each county in Oregon has its own FHA loan limit. A homeowner’s first-lien unpaid principal balance must be less than their county’s FHA loan limit unless the homeowner qualifies for an exception. Exceptions are based on (1) the size of the property; (2) whether the property is used for business purposes; and (3) whether the home’s current value is less than the FHA loan limit.

No, OHSI does not provide assistance for second mortgages or other junior mortgages. OHSI provides assistance only for first mortgages.

It depends. If you previously received any form of monthly payment assistance from OHSI, you are ineligible for the Home Rescue Program. Any other form of assistance from OHSI does not affect your eligibility for the Home Rescue Program.

No, OHSI is able to provide assistance only to homeowners with a participating servicer. A full list of participating servicers can be found on the Servicers page.

 

If your servicer is not enrolled, you can ask OHSI to contact your servicer about participating.

  • Send an e-mail to ohsi.servicers@hcs.state.or.us with a subject line of "servicer enrollment." 
  • Include the name and contact information of your servicer in your email message. 
Keep in mind that servicers are under no obligation to participate in OHSI programs.

Homeowners in a HAMP trial period cannot receive Home Rescue Program assistance until the HAMP trial period is complete. Homeowners can apply for the Home Rescue Program but will need to choose between completing the HAMP trial period and the Home Rescue Program, if approved.

 

Homeowners with a permanent HAMP modification can receive Home Rescue Program assistance, if approved.

 

If you have applied for HAMP, or are in a HAMP trial period, contact your servicer for more information.

Openings for the Home Rescue Program are based on available funds and could close at any time.

Apply for the Home Rescue Program online at Home Rescue Program page

If you’re unable to get past the first page of the Home Rescue Program application, it may be for one or more of the following reasons:

  • No more slots remain for the application cycle.
  • Your servicer is not enrolled in the Home Rescue Program. Click here for a list of participating servicers.

Completing the Home Rescue Program application and gathering all of the required supporting documents can take an hour or more. The time it takes depends on your unique situation.

 

It is a good idea to begin gathering supporting documents before beginning your application. Please review the Submission Checklist to learn more about what supporting documents you will need to apply.

It can take up to 120 days to process your application for the Home Rescue Program. To avoid delays, be sure to provide all required information when sending in your application. You may be contacted if you fail to provide information or if more information is needed to review your application. Respond to requests as quickly as you can.

 

The process works as follows:

  1. Applicant completes online application and gathers supporting documents. 
  2. Applicant sends application and supporting documents to intake agency. 
  3. Intake agency reviews application for completeness and may contact you if information is missing. 
  4. Applicant receives an e-mail from OHSI indicating that the application is under review or that the application is incomplete. 
  5. OHSI and your mortgage servicer review your application. 
  6. Approved applicants are contacted by their intake agency to sign program loan documents. 
  7. Denied applicants receive a letter from OHSI explaining the reason for denial. 
Keep in mind the following:
  1. If you miss the deadline to submit your application and all supporting documents, you will have to start from the beginning in the next application cycle. 
  2. The deadline to submit your application and all supporting documents is 9 days from the beginning of the cycle. 
  3. Servicers are under no obligation to participate in OHSI programs. Follow this link to see participating servicers.

Homeowners who submit incomplete applications or miss the deadline will not be evaluated.

 

Incomplete applications commonly occur when the applicant does not supply all the supporting documentation with their application.

All parties listed on the promissory note, deed of trust or other tile instrument must sign loan documents. Divorced couples will need former spouses to sign loan documents if the former spouse is still listed on the note. If a former spouse is listed on the deed of trust, they will need to sign the subordination agreement.

All parties listed on the promissory note, deed of trust or other tile instrument must sign loan documents. Divorced couples will need former spouses to sign loan documents if the former spouse is still listed on the note. If a former spouse is listed on the deed of trust, they will need to sign the subordination agreement.

Applicants are responsible for paying their own mortgage payments due the month they sign program loan documents and the month following. Program payments will then begin.

 

For example:

 

John signs program loan documents in September. He is responsible for making his mortgage payment for September and October. OHSI would make John’s November mortgage payment.

Under the Home Rescue Program, OHSI will provide no more than 12 full monthly mortgage payments and no more than $20,000 in total assistance. Payments are sent directly to your loan servicer. If you have received 12 payments, but not the full $20,000 in possible assistance, no further payments will be made.

 

Following acceptance into the Home Rescue Program, OHSI will check with your servicer to see if you have arrearages that meet eligibility requirements. If eligible, OHSI will make a one-time payment up to $10,000 to bring your mortgage current.

Because the loan is forgiven 20% each year for five years, you may have to repay the Home Rescue Program loan if you sell or refinance your home before the five-year forgiveness period ends and you have sufficient equity after you pay off your first mortgage. If you have questions, please contact ohsi.payoffs@hcs.state.or.us.

If you refinance your mortgage after submitting your application or while receiving assistance, you will be disqualified for assistance. Your eligibility for the program is tied to the specific mortgage you identify on your application. By refinancing you are obtaining a new mortgage and your previous mortgage is closed. You will not be able to update your mortgage information with OHSI or reapply for further assistance from the Home Rescue Program.

The Homeowner Education Program is a series of online videos that helps OHSI program participants maximize their assistance. All enrolled participants must complete the series. Videos review budgeting tips, credit repair, debt repayment strategies, savings planning, and other financial education topics.

Participants are required to provide a verification of their continuing eligibility for the program in the months of January, April, July, and October.

  • Household income does not exceed 120% SMI. 
  • Please note that electronic signatures on verification forms will not be accepted.
Hot Topic
OHSI Fraud Reporting Hotline
OHSI provides an anoymous fraud reporting hotline; If you are currently aware of, or suspect fraud, you can report it anonymously by calling 1-800-948-7688.

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