Creatign Homeownership, Building Communities

Helpful Resources

*New* Apply Online for Assistance - Easy to use, quick response.

Foreclosure Scams - Borrower Beware - Warning signs of scams, tips to avoid scams, reporting a scam.

Making Home Affordable 2009 - Summary - Easy to understand summary of President Obama's new plan.

List of Lenders and Servicers - Comprehensive list of lenders and servicers that NHSGC works with (added to daily).

Tips for Avoiding Foreclosure - Learn how to avoid foreclosure and what to do if experiencing difficulty.

Timeline of Delinquency, Default and Forelcosure - see a map of the timing process from start to finish.

Ohio Home Rescue Fund - Financial assistance to help you keep your home.

Cuyahoga County Foreclosure Prevention Initiative

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Ohio Home Rescue Fund

The Ohio Home Rescue Fund is part of a larger foreclosure prevention initiative led by eleven nonprofit organizations in the Ohio NeighborWorks Foreclosure Prevention Initiative. The initiative includes a public education campaign; marketing and outreach efforts including a National Ad Council campaign that began in June 2007; telephonic and face-to-face counseling; loss mitigation for the community, lenders and homeowners; and training components for nonprofit counselors and consumers. This is the first statewide foreclosure prevention initiative undertaken by NeighborWorks® America and its national partners through the NeighborWorks® Center for Foreclosure Solutions.

Funding for this program is provided by:
Ohio Housing Finance Agency

Income Range:

Up to 115% area median income (AMI)
- Exceptions: Up to 140% AMI in HUD target areas
- No income limit if a first mortgage was obtained through OHFA first time homebuyer program
Window of qualification – previous 365 days of income at application

Rescue Terms:

$5,000 or 3 months of mortgage/interest/taxes – whichever is less or if the mortgage/interest/taxes is more than $1,000 a month
0% interest, deferred, due on sale or transfer second mortgage
Record as a mortgage and assigned to the Ohio Housing Finance Agency

Other Qualifications:

Documentable trigger event
Budget wherewithal to maintain home once “rescued”
Must agree to post-rescue counseling
Other documents, including hardship letter needed

This is a statewide program. Neighborhood Housing Services of Greater Cleveland administers this program for Cuyahoga, Erie, Huron, Lorain and Medina Counties.

To start the process, call 216.458.HOME (4663 ) or visit www.nhscleveland/intake.

	Helpful Resources New Apply Online for Assistance - Easy to use, quick response. Foreclosure Scams - Borrower Beware - Warning signs of scams, tips to avoid scams, reporting a scam. Making Home Affordable 2009 - Summary - Easy to understand summary of President Obama's new plan. List of Lenders and Servicers - Comprehensive list of lenders and servicers that NHSGC works with (added to daily). Tips for Avoiding Foreclosure - Learn how to avoid foreclosure and what to do if experiencing difficulty. Timeline of Delinquency, Default and Forelcosure - see a map of the timing process from start to finish. Ohio Home Rescue Fund - Financial assistance to help you keep your home. Cuyahoga County Foreclosure Prevention Initiative Back to Programs Main Ohio Home Rescue Fund The Ohio Home Rescue Fund is part of a larger foreclosure prevention initiative led by eleven nonprofit organizations in the Ohio NeighborWorks Foreclosure Prevention Initiative. The initiative includes a public education campaign; marketing and outreach efforts including a National Ad Council campaign that began in June 2007; telephonic and face-to-face counseling; loss mitigation for the community, lenders and homeowners; and training components for nonprofit counselors and consumers. This is the first statewide foreclosure prevention initiative undertaken by NeighborWorks® America and its national partners through the NeighborWorks® Center for Foreclosure Solutions. Funding for this program is provided by: Ohio Housing Finance Agency Income Range: Up to 115% area median income (AMI) Exceptions: Up to 140% AMI in HUD target areas No income limit if a first mortgage was obtained through OHFA first time homebuyer program Window of qualification – previous 365 days of income at application Rescue Terms: $5,000 or 3 months of mortgage/interest/taxes – whichever is less or if the mortgage/interest/taxes is more than $1,000 a month 0% interest, deferred, due on sale or transfer second mortgage Record as a mortgage and assigned to the Ohio Housing Finance Agency Other Qualifications: Documentable trigger event Budget wherewithal to maintain home once “rescued” Must agree to post-rescue counseling Other documents, including hardship letter needed This is a statewide program. Neighborhood Housing Services of Greater Cleveland administers this program for Cuyahoga, Erie, Huron, Lorain and Medina Counties. To start the process, call 216.458.HOME (4663 ) or visit www.nhscleveland/intake. . Leadership Partners 216.458.4663 © Neighborhood Housing Services of Greater Cleveland. All Rights reserved. Site Map \| Terms

Helpful Resources

Ohio Home Rescue Fund

Leadership Partners