Housing Alliance: Foreclosure Update

Great news from the Legislature this week!

As you probably know, the Oregon State legislature had three days of meetings this week in Salem. A big item on the agenda was deciding on spending to address the foreclosure issues that continue for Oregonians and Oregon communities.

A final vote was taken on foreclosure funding on Wednesday by the Emergency Board. Thanks to the support of Legislative leadership and many members, Oregon Housing and Community Services and the Department of Justice will receive most of the resources they requested for the balance of this calendar year. The resources will allow them to set up and fund a system to provide homeowners with essential information through outreach and counseling and to start up the mediation services provider this summer.

The agencies had requested a combined total of $9.096 million, and will receive $7.632 million. Our hope is that we can return to the Legislature once the programs are up and running and report on our progress. If community needs and program outcomes demonstrate a need for additional funds and the benefits of the programs, we assume that the Legislature will once again rise to the challenge and be supportive. The Legislature will meet again in mid-September and early December before returning for a full legislative session in 2013.