OHCS Hardest Hit Mortgage Payment Assistance Program Starts Making Mortgage Payments, "Majority" Expected to Start by June 1st; First Performance Report Delayed.

In PR HERE OHCS/OHSI has announced that it has begun making mortgage payments for those determined eligible in an application process that ended January 14th. 

OHCS says that 400 closing packages were sent to local partners last week and that closing packages for the "majority" of [6,000] eligible applications are expected to be sent to local partners by June 1st.

More about this program can be found in FAQ's HERE.

Upcoming Developments: Continuing Participation Requirements and 90 Day Delay in Posting of 1st Performance Report.

Continued Participation Requirements: In the FAQ's updated as of today there is this note about ongoing compliance requirements: 

MPA Program participants will be required to demonstrate continuing eligibility through a monthly verification process and to participate in a quarterly education program. Both the monthly verification and the quarterly education program will begin in June 2011. Participation will be required as long as benefits are provided. More information about the verification process and the Homeowner Education Program will be available on this website and at intake agency offices beginning May 1

Delay in Posting of First Performance Report 

PR also doesn't say, but website does, that initial Treasury performance report is NOW to be posted to OHSI website on July 25, 2011. This is a substantial 90 day CHANGE from posted information from last week which had the 1st performance report being posted on April 25, 2011, a week from now.

Posting of the 1st performance report on July 25th. would mean posting of the first report would occur more than 6 months after the conclusion of the January application period for this program.

Originally created and posted on the Oregon Housing Blog.