Oregon Senate passes bill to reinstate foreclosure moratorium until at least June 30
Updated 12:33 PM;
Today 12:28 PM
The Oregon Senate passed a bill Monday that would reinstate the state s foreclosure moratorium. Oregonian file photo by Yuxing Zheng
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The Oregon Senate approved a bill Monday that would reinstate the state’s moratorium on residential foreclosures until at least June 30, but would offer homeowners less leeway to defer payments than an earlier version passed by the Oregon House.
The bill passed the Senate on a 19-9 vote mostly along party lines. Two Republicans joined Democrats in voting in favor of the bill, while one Democrat voted against the legislation.
Oregon House Democrats push to reinstate foreclosure moratorium in effort to help struggling homeowners
Updated Feb 08, 2021;
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Dave Hall has lived in the same house in Lake Oswego for the last 24 years. He raised his three children there. There are still marks on the wall where he tracked their heights as they grew.
Until last year, Hall didn’t worry much about keeping up with his mortgage payments. That changed after the start of the coronavirus pandemic as business dried up at the consumer finance company he runs.
With no income coming in, Hall, 75, sought to temporarily halt his mortgage payments through his lender’s forbearance program. He said he feels fortunate that his lender has allowed him to extend his forbearance period several times since last summer.
Oregon now appears on track to allocate $63.5 million in rental assistance by end-of-year deadline
Updated Dec 17, 2020;
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The state says it is on track to allocate the entirety of its $63.5 million in rental assistance to Oregon tenants in need by the end of the year and won’t have to return any of the money to the federal government.
That’s a dramatic uptick from two months ago, when local agencies still had most of the money and appeared in danger of missing the Dec. 30 deadline and forfeiting the federal dollars.
A new report from Oregon Housing and Community Services, the state agency overseeing the rental assistance program, shows that 93.5% of the funds had been committed to specific households by Dec. 10, putting the state on track to meet the end-of-year deadline.