Home Must Reads Multnomah County to test program to help underwater homeowners

Multnomah County to test program to help underwater homeowners

| Print |  Email
Must Reads
Tuesday, February 12, 2013

Multnomah County is testing a pilot program to help underwater homeowners locked into high-interest mortgages.

The U.S. Treasury Department on Monday said it has approved a one-county pilot program starting in April that would allow borrowers who owe more than their home is worth to refinance into lower-interest loans. The pilot is based on a proposal Sen. Jeff Merkley, D-Ore., first outlined last summer.

Under the plan, the state would buy the loan and refinance it into a new 30-year loan with a 5 percent interest rate. The borrowers will also have the option to refinance into a 15-year loan, lowering total borrowing costs and paying off the debt more quickly.

Read more at OregonLive.com.

{biztweet}underwater homeowner{/biztweet}

 

More Articles

A Taste of Heaven

September 2014
Tuesday, August 26, 2014
BY VIVIAN MCINERNY

Craft beer comes to Mount Angel.


Read more...

Grape Expectations

October 2014
Thursday, September 25, 2014
BY HANNAH WALLACE

Well-financed outsiders from France and California are buying up vineyards and wineries in the Willamette Valley.


Read more...

Poll Wrap-Up

News
Friday, August 15, 2014

2014 NewPoll-report-newsletterthumbIn this week's poll, we asked readers: "Who should pay for the troubled Cover Oregon website?" Here are the results.


Read more...

Managing family assets: The importance of planning ahead

News
Friday, August 22, 2014
Unknown-1BY CLIFF HOCKLEY |  OB GUEST CONTRIBUTOR

When business intersects with family, a host of  situations can arise. Without a clear vision and careful planning, hard-earned investments can become stressful burdens.


Read more...

A Good Leap Forward

September 2014
Wednesday, August 27, 2014
BY AMY MILSHTEIN

Agriculture businesses ramp up to meet international demand as workforce and succession challenges loom.


Read more...

Gone Fishing

October 2014
Thursday, September 25, 2014
BY LORI TOBIAS

Business has been good to Laura Anderson, leading some to suggest she must be awfully lucky to find such success in a business notorious for failure. But luck’s had little to do with it.


Read more...

Startup or Grow Up?

September 2014
Tuesday, August 26, 2014
BY JON BELL

Startup culture is all the rage. Is there a downside?


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS