Rep. Wand Supports Funding for Foreclosure Counseling, Outreach for Distressed Homeowners
Funding Will Also Support Monitoring, Enforcement of Foreclosure Fraud
SALEM—Rep. Matt Wand (R-Troutdale) this week supported the legislative Emergency Board’s decision to provide over $7.6 million for programs to assist distressed homeowners facing foreclosure and to combat foreclosure fraud. The funding will help implement a new law Rep. Wand co-authored earlier this year to help more Oregonians stay in their homes.
“The 2012 legislation, along with the funding authorized today, will help an estimated 18,000 Oregon homeowners who are facing foreclosure,” Rep. Wand said. “The package will ensure that Oregonians get the information they need to understand their options, learn what they can reasonably afford, and take appropriate steps to keep their homes.”
The Emergency Board will provide over $3.8 million to the Oregon Housing and Community Services Department for foreclosure counseling, legal assistance and outreach to distressed homeowners. The Department of Justice will also receive over $3.7 million to establish a new mediation program, as well as to support the monitoring and enforcement of foreclosure fraud.
“While I’m very pleased with today’s action, foreclosure-related legislation and funding will only solve a part of the problem,” Rep. Wand said. “The number one cause of home foreclosures is the loss of jobs, and the Legislature must take more aggressive action to help improve our economy and private sector. I will continue to help our local businesses expand by hiring our neighbors.”