Neighboorhood Housing Services, Inc. is part of a state wide foreclosure prevention program in Ohio working partnership with NeighborWorks ® America. The primary goals of this initiative are to preserve homeownership and prevent homelessness for a projected 1,000 families in Ohio over the next 3 years. The ("Ohio Home Rescue Fund") to provides financial assistance up to $3,000 per house hold for low and moderate income families that in danger of losing their homes through foreclosures in 2006 - 2009.
The Ohio Rescue Fund is part of a larger foreclosure prevention initiative lead by 12 non-profit organizations in Ohio. The initiative includes a public education campaign; marketing and outreach efforts; telephonic and face-to-face counseling; lost mitigation for the community; lenders and homeowners; training components for non-profit counselors and consumers. This was the first statewide foreclosure prevention initiative undertaken by NeighborWorks ® America and its national partners through the newly created center for Foreclosure Solutions.
Visit www.nw.org/foreclosuresolutions
For program application information, please call 419-691-2900.
OHIO RESCUE FUND FORECLOSURE PREVENTION ASSISTANCE
OHIO HOUSING COMMUNITY PARTNERSHIP (OHCP) REQUIREMENTS
THREE (3) YEAR FORGIVEABLE GRANT
A. earn 65% or less of the AMI adjusted for family size at the time of application. Pay stubs and other income documentation will be required
B. be a resident of Ohio
C. be living in the home that is in default
D. provide documentation of the current status of the mortgage/taxes
E. provide documentation of the condition that led to your inability to make payments, i.e., a medical verification, documented loss of income or other financial emergency
F. demonstrate the ability to sustain your monthly credit obligations
G. agree to seven (7) hours of foreclosure prevention training
H. homeowner insurance policy that is current and enforce
I. maximum assistance totals $3,000.00
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OHIO HOUSING FINANCE AGENCY (OHFA) REQUIREMENTS
DUE ON SALE LOAN
The applicant must:
J. earn between 65% and 115% of the AMI adjusted for family size at the time of application. Pay stubs and other income documentation will be required
K. be a resident of Ohio
L. be living in the home that is in default
M. provide documentation of the current status of the mortgage/taxes
N. provide documentation of the condition that led to your inability to make payments, i.e., a medical verification, documented loss of income or other financial emergency
O. demonstrate the ability to sustain your monthly credit obligations
P. agree to seven (7) hours of foreclosure prevention training
Q. homeowner insurance policy that is current and enforce
R. maximum assistance totals $3,000.00
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