Oregon Selected For Fed Program To Help Families Stay In Homes

By Kristian Foden-Vencil | March 29, 2010 2:29 p.m. | Updated: June 16, 2010 11:56 p.m. | Portland, OR

Discuss
Download

Please install Flash to hear the audio. Url:

The White House released details Monday on a plan to help families in five states stay in their homes. Oregon was chosen as one of those states because of its high unemployment rate.  The idea behind this latest federal stimulus is that responsible families are losing their homes not because of bad financial decisions, but because breadwinners have lost their jobs. The feds will split $600 million among Oregon, Ohio, Rhode Island and North and South Carolina. The effort is meant to keep those families in their homes - and to keep real estate prices healthy.  Deanna Farrell, with the White House, said it's up to the states how they want to spend the money. "You know, you could have a large number of folks helped a little bit or a few number of folks helped quite a lot," she said.Most Oregon's so-called 'Hardest Hit Funds' are expected to go to 14 counties - the ones with unemployment rates exceeding 12 percent. To get the money, states have to submit their plans to the feds. Those ideas and how well they work will be posted on-line.

© 2010 OPB

Share this article

Discuss

blog comments powered by Disqus

Become a sponsor