Oregon gets new mortgage aid program

Oregon gets new mortgage aid program

The Home Rescue Program begins taking applications this week from Oregonians that are facing foreclosure. The program will cover up to a year of mortgage payments.

To participate, homeowners must document a 10 percent decline in income this year compared to 2011 or 2012. The program will open at noon Wednesday to residents of all Oregon counties except Multnomah, Clackamas and Washington, and it will expand to include residents of those counties Aug. 28.

The program is expected to reach about 2,500 homeowners.

Read more at OregonLive.com.