Homeowner Financial Assistance

This program will provide financial assistance to at least 230 homeowners to prevent involuntary displacement due to impacts of COVID-19.

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About the program

This program will provide financial assistance to at least 230 homeowners to prevent involuntary displacement due to impacts of COVID-19, with direct payments made to the creditor for delinquent accounts. Eligible expenses include but are not limited to, delinquent mortgage payments to bank or lending institution, Homeowner Association dues, homeowner’s insurance, and some utilities. Counseling agency will make homeowner aware of assistance already made available through the CARES Act, which is to be utilized instead of Homeowner Financial Assistance (if available).

Eligibility

  • Resident of the City of Portland
  • Must be at or below the 80% Area Median Income
  • Has experienced a loss of income due to COVID-19 related factor; OR compromised health status; OR elevated risk of infection or vulnerability to health related COVID-19.

Priority is given to low income homeowners that have received the PHB Down Payment Assistance and/or the Home Repair Loan. Funding will be made available to other homeowners if funding is available, and can be accessed by contacting the contracted non-profit partners. $6000 maximum financial assistance per household.

Financial assistance available October 1, 2020. Payments to be mailed directly to creditors.


Also related to CARES Housing Assistance, learn about Mortgage Counseling and Navigation Services.