Overview

OHCS provided HAF homeowner assistance through no-interest, five-year, forgivable loans that create a mortgage on the property. No payments are required during the five-year forgiveness period. The mortgage reflects the maximum benefit that could have been received, “up to $60,000,” not the amount that was actually received. The HAF loans are forgiven at the end of the five-year monitoring period. No partial or annual forgiveness is calculated unless a payoff is triggered by the sale of a property or a refinance where a homeowner takes cash out or consolidates other debt.

In the event of a payoff event, the loans are forgiven at a rate of 20% per year, starting with the month after the final HAF assistance payment was made. An escrow agent or loan officer can request a payoff statement as part of a transaction.

Payoff statements

When a payoff event is happening, an escrow agent or a loan officer can request an official payoff statement by emailing haf.payoffs@hcs.oregon.gov. The Payoffs Department is not available by phone. All email inquiries are processed in the order received. Please allow 72 hours for response time.

Recording fees

The homeowner is responsible for all associated recording fees for removal of the lien once a payoff for the loan has been received prior to the five-year loan forgiveness date.

OHCS will pay the recording fee to release our lien only when we place said lien on the participant’s property in error. OHCS will also be responsible for recording and the recording fee to release the lien when our loans reach the five-year forgiveness period and is forgiven in full.