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

Green eyeshades in the ivory tower

News
Friday, April 04, 2014
EducationCosts BlogBY ERIC FRUITS

The rapidly rising cost of higher education has left even the smartest researchers and the wonkiest of wonks wondering what’s happening and where’s all that money going. More and more, prospective students—and their families—are asking: Is college worth the cost?


Read more...

From the Editor: The human factor

March 2014
Tuesday, February 25, 2014

In this issue, we celebrate our 21st annual 100 Best Companies to Work For in Oregon project.


Read more...

The future of money

March 2014
Tuesday, February 25, 2014
BY JAKE THOMAS

An ancient institution moves slowly into the digital age. 


Read more...

Workplace benefits

March 2014
Tuesday, February 25, 2014

Health care and vacations rule. That’s the consensus from our reader poll on workplace benefits that help retain and recruit employees.


Read more...

Barrister bands

March 2014
Tuesday, February 25, 2014
IMG 4691BY LINDA BAKER

An intellectual property attorney by day, 48-year-old Stoll Berne attorney Tim DeJong is a singer and guitarist by night.


Read more...

On fire

March 2014
Tuesday, February 25, 2014
BY JESSICA RIDGWAY

A self-proclaimed “chile head,” John Ford “grows, eats and does everything spicy.” 


Read more...

Rapid ascent

March 2014
Tuesday, February 25, 2014
IMG 4255-2BY AMY MILSHTEIN

Kelly Dachtler, president of The Clymb, redefines outdoor retail.


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