Oregon Public Broadcasting

Some Oregon homeowners caught in the housing market crunch will benefit from the foreclosure relief settlement negotiated by 49 state attorneys general.

Oregon AG John Kroger says the agreement means $30 million for the state, an estimated $200 million to help some homeowners, and some new foreclosure rules.

Angela Martin is the director of the advocacy group Economic Fairness Oregon.  She says the settlement is important, but she doesn't think it delivers much real economic relief.

"I like to think of it as stealing someone's wallet stuffed with cash, and giving them back a coffee punch card," Martin said.

Some people who lost their homes to foreclosure will receive one-time, $2000 payments. Martin says intense discussions continue in Salem over whether and how the state  should further reform the foreclosure process.