Thousands at risk of foreclosure after Oregon moratorium expired

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PORTLAND, Ore. (KOIN) – Oregon’s foreclosure moratorium was put in place to prevent foreclosures for people who couldn’t pay their mortgages as a result of the pandemic. The moratorium expired at the end of the year, leaving thousands of homes across the state at risk of foreclosure. 

Since it expired, people are no longer able to defer their mortgage payments. Latest numbers show more than 8,600 homes in Oregon are already at risk of foreclosure.

The state is expecting to get $90 million in federal funding for a homeowners assistance fund. So far, they’ve received $9 million of that.

However, Oregon Housing and Community Services says the need for mortgage relief is much higher than the amount of funding expected to be available. They anticipate the program will only be able to help 1,200 households. 

If you’ve fallen behind or are at risk of missing a mortgage payment, you can get free help from certified housing counselors like DevNW. 

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