Oregon Starts Its Own Mortgage Assistance Program [mortgagecalculator-tips.blogspot.com]
Mortgage business has grown with the continuation of historically low mortgages rates, as well as, the government programs, HARP and FHA Streamline Refinance, put into effect to increase mortgage refinances. Today's 30 year fixed mortgage rates are at ... Mortgage Rates: Low Mortgage Rates Holding On as Stocks Find Reason to Rally
Oregon has announced the distribution of its financial assistance to homeowners in the state who are facing possible foreclosure. The Mortgage Payment Assistance (MPA) program was set to start assessing applications and granting aids beginning Friday, December 10.
Troubled homeowners in the state are advised to fill up application forms that are posted online. A special and secure software would be used to randomly select eligible applicants who are qualified for the program. The chosen applicants would be immediately notified after the closing date, which is on January 14 next year.
Contrary to beliefs, the program is not on a first-come, first served basis. Eligible homeowners who have filed applications within the period would be given the opportunity to obtain assistance for their mortgage payments. Requirements are set because the program may not be able to cover every troubled homeowner due to limitations in resources.
MPA would be the first in four programs that would be launched through the Oregon Homeownership Stabilization Initiative.
The foreclosure aid programs in the state would be funded by the federal government. The US Treasury has provided a $ 220 million budget to the state for the implementation of statewide foreclosure prevention programs. Oregon is currently working with several organizations to help and reach out to troubled homeowners who are at risk of foreclosures.
The housing finance agency of the state, Oregon Housing and Community Services, was created to plan and roll out the four mentioned programs that are all aimed at helping households that are suffering from unemployment. The programs are also targeting homeowners who are suffering from underemployment due to the impact of the recent economic recession.
MPA is the biggest program of the four. It has an initial fund allocation of $ 100 million. It aims to distribute mortgage assistance to as many as 5,000 households. The maximum assistance amount to be distributed to each eligible applicant is about $ 20,000, which could cover up to a year of mortgage payment.
After the software selects an applicant, he would be required to attend a meeting with an intake advisor. The meeting would help make sure all required documents would be submitted. Homeowners without access to the Internet could proceed to the nearest and local intake agency in their counties.
For more news about foreclosure, visit ForeclosureConnections.com.
Suggest Oregon Starts Its Own Mortgage Assistance Program Issues
Question by Dwayne: Where can I find the current mortgage rate in Oregon? I'm going to refinance my house and I heard from friends that this coming week the mortgage rate will drop a bit. When I called a broker last week, she said that the lowest mortgage rate was 6.5. But I believe this week will be lower. My question is does anybody know a good website, free and without signing up, that shows current day to day mortgage rate. I live in Portland, Oregon. In your opinion, how would the mortgage rate would be this coming month and beyond. Thanks Best answer for Where can I find the current mortgage rate in Oregon?:
Answer by WJVV
amerisave.com is a good site.
Answer by Rick B
There is no such thing as a set rate per state. Your rate depends on your particular credit rating, how much you are financing, what term, etc. To get a quote for you, there are several websites. Personally, I like talking to real live mortgage brokers though.
Answer by Business Mom
contact your local banks or local financial institutions...you can even view them online.. but remember that rate may change depending on your background (credit, job etc)...everybody's circumstance is different. stay local and please stay away from internet scam offers. good luck
Answer by Dr. Deth
it's not going to change much from week to weeks - 100ths of a percent and you get a particular rate until you actually apply and lock it in, and they won't let you lock it in until it gets close to actual closing date - may require a fee to lock in also
Answer by insureman613
I have seen some links to free current rates at www.bestmortgageanswers.info The rates will probably change again on Tuesday, so make sure to check back after that.
Answer by Jayson H
Check out this site, I'm sure they have the answer you're looking for.
Answer by Barbie d
Hello, I am a loan officer in Oregon and I can say the rates will be different pending credit score; how much equity you have in your house; and even the lender your actually going through. If you are going full doc or stated on your loan. It all factors sinto the rate. Rates go up and down all year long.. And the rates you see online are usually prime. Bankrate.com is a good site for mortgage information. But as I saw someone advise earlier DO NOT use the online systems to obtain a rate. they will sell your information to everyone and they will all start pulling your credit which can ding your score!!
Answer by Ms Betty
Contact a local mortgage or lending company for a rate near you!
Answer by KpoBanker
You have to give a lot more info about the loan before anyone can honestly answer that question.
Answer by
