New short sale program allows homeowners to keep their home

Oregonians living in Deschutes and Jackson Counties can now take advantage of a new and exciting government-funded program (Oregon Hardest Hit Funds Program or “OHHFP”) designed to allow you to stay in your home on an affordable
and realistic basis. If you’re struggling to make your payments or have already missed payments but you would like to stay in your home, contact me to discuss program criteria. Program funding is limited, and approvals are based upon a first come/first served basis. If you and your home qualify, OHHFP reduces your mortgage debt to reflect the current value of your home. OHHFP allows you to stay in your home, reduce the amount you owe on your mortgage, and reduce your monthly payment, all at no out-of-pocket cost to you.

Sounds to good to be true right? You’re probably wondering how this is possible. The program works like a short sale. The homeowner’s property is purchased by a company operating the program on behalf of the State of Oregon, and it’s then sold back to the homeowner, at current market value, with the purchase price financed by the State of Oregon through a 30 year, fixed rate loan.

TOTAL PROPERTY RESOURCES, a full service real estate sales brokerage company headquartered in Bend, is pleased to be one of the FIRST real estate brokerage companies in Oregon to position itself to assist homeowners in taking advantage of OHHFP, focused on the needs of homeowners in Deschutes and Jackson Counties, through the use of designated TARP funds. This program is one of the first of its kind in the nation.

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One comment

  1. Dave Woodland · · Reply

    Cheri, this is a terrific program! You have done a very nice job introducing it. I hope many take advantage of it and are really benefited by this offering.

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