Loan Preservation Assistance (LPA)
The Loan Preservation Assistance program is here! If you live in Central Oregon and are behind on your mortgage, have backed county taxes or owe charges on your Reverse Mortgage, this State funded program may be able to help. For more information about the program and for eligibility requirements, go to: http://www.oregonhomeownerhelp.org/en/homeowner-education-program/.
Provides aid of up to $40,000 for households that are behind in their payments.
Three types of benefits:
- Loan Preservation Benefit (to bring mortgage current – not for future payments)
- Tax Benefit (must own home free and clear – pays backed county taxes)
- Reverse Mortgage Benefit – this benefit helps homeowners that are behind on their reverse mortgage charges (taxes, insurance and HOA fees)
Applications are accepted via Oregon Homeownership Stabilization Initiative (OHSI) website:http://www.oregonhomeownerhelp.org
Once you have submitted your application NeighborImpact HomeSource staff will be your local intake agency for you to bring all the needed documentation.
This program is available throughout the tri-county region.
2303 SW First Street
Redmond, OR 97756
20310 Empire Ave, #A100
Bend, OR 97701
422 NW Beaver Street
Prineville, Oregon 97754
374 SW 5th Street, Suite B
Madras, OR 97741