U.S. Senators Ron Wyden and Jeff Merkley announced that Oregon will be allocated more than $90 million in federal assistance from the American Rescue Plan for homeowners struggling to pay their mortgage, home insurance and utility payments because of the COVID-19 pandemic.
“No one should have to fear losing their home due to circumstances beyond their control, like a global pandemic,” Wyden said. “The economic fallout of this public health crisis has underlined just how close many Oregonians to losing the roof over their heads to defaults and foreclosures. The American Rescue Plan has thrown our state and our nation a vital lifeline, and these funds will go a long way toward remedying some of that hardship.”
“Everyone — regardless of the color of their skin, their zip code, or their income — deserves a safe, affordable roof over their head,” said Merkley. “But for so many families, this pandemic has caused losses of income and new, unexpected costs, making it especially hard to keep up with mortgage payments. I’m grateful that this funding is headed to our state where it will help Oregonians stay in their homes, and will continue to work to secure the funding our communities need to make housing more accessible and affordable during the coronavirus crisis and beyond.”
The American Rescue Plan provides up to $9.96 billion in relief nationwide for homeowners through the Homeowner Assistance Fund (HAF). The purpose of the HAF is to prevent mortgage delinquencies and defaults, foreclosures, loss of utilities or home energy services, and displacement of homeowners experiencing financial hardship due to the COVID-19 pandemic.
Funds from the HAF may be used for assistance with mortgage payments, homeowner’s insurance and utility payments. Homeowners who have experienced the greatest hardships will be prioritized.
