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For Immediate Release
February 1, 2012
Homeowners Facing Foreclosure May Qualify for up to $35,000 in Mortgage Assistance.
CLEVELAND, OH – Empowering and Strengthening Ohio’s People wants to spread the word about changes to the Ohio foreclosure prevention program that could help more struggling homeowners stay in their homes by providing up to $35,000 in mortgage assistance.
Today the Ohio Housing Finance Agency announced the expansion of Save the Dream Ohio. The program is designed to help homeowners experiencing a financial hardship like unemployment or other loss of income. New rules are intended to help more people qualify for the program and increase the amount of help they can receive. Changes include:
Save the Dream provides six ways for homeowners to get help:
Of the $570 million dollars that Ohio was awarded from the U.S. Treasury Department’s Hardest Hit Fund so far $105 million has been used to assist Ohio homeowners. ESOP foreclosure prevention advocates are hopeful that the new program guidelines will help home struggling homeowners get the help they need to stay in their homes.