What is the Oregon Homeowner Assistance Fund?

The Oregon Homeowner Assistance Fund helps those who have fallen behind on their mortgage payments and other housing expenses. Oregon has received funds as part of the American Rescue Plan Act of 2021 to help homeowners who have experienced financial hardship avoid mortgage foreclosures, delinquencies, defaults and displacements. Oregon Housing and Community Services is working to assist homeowners at risk of losing their homes in a phased approach, focusing first on homeowners who are the most at-risk of foreclosure or who have the fewest loss mitigation options.

Eligible homeowners who apply for relief through the Oregon Homeowner Assistance Fund may qualify for one or both of the following programs:

Past-Due Payment Relief Program

The Past-Due Payment Relief program provides eligible homeowners with up to $50,000 to eliminate past-due balances for eligible housing costs, including:

  • forbearance plans 
  • forward (traditional) mortgages 
  • reverse mortgages 
  • loans secured by manufactured homes, and lot fees 
  • loans secured by floating homes, and moorage fees 
  • land sale contracts 
  • property taxes 
  • homeowners’ insurance 
  • homeowners’ association (HOA) or condo association dues 
  • monthly maintenance fees for cooperative ownership housing 
  • ground lease payments and/or land trust charges 

Ongoing Payment Relief Program

The Ongoing Payment Relief program provides eligible homeowners with money to cover all or some of their monthly mortgage and housing cost payments going forward. The Ongoing Payment Relief program has two tracks depending on your situation: 

  • Hardship Track: Eligible homeowners may receive up to 12 months of payment help for eligible housing costs, not to exceed $15,000 per household. 
  • Stability Track: Eligible homeowners may receive up to three months of payment help for housing costs, including mortgage payments (not to exceed a total of $3,750 per household) to help increase housing stability post-pandemic. Homeowners must be “housing cost burdened” to qualify for this track, meaning their monthly housing costs are equal to, or greater than, 43% of their monthly gross income. 

Homeowners who are eligible for both programs may not receive more than $60,000 in total assistance. 

For approved applications, Oregon Housing and Community Services will make payments directly to the servicer, county, HOA or other appropriate housing entity. Assistance will be in the form of a five-year, no-interest, forgivable loan. The loan is recorded as a second mortgage/lien on your property with the county. After five years, the entire loan is forgiven.   

If you sell your home or refinance it for cash within five years, you may have to repay the portion of the loan that has not yet been forgiven. In addition, if you commit fraud, provide false information, or are unable to provide documentation to support your application, your loan will not be forgiven and you may be subject to criminal prosecution or civil action.

What’s next?

Learn more about your eligibility and when you can apply.

Oregon Housing and Community Services has paused accepting new Homeowner Assistance Fund applications to process current applications and conduct system maintenance. Homeowners in active foreclosure can still submit an application through a free housing counselor. Information on when and how the HAF program will reopen will be announced in early 2023.