Ohio Home Rescue Fund

By
Real Estate Agent with Keller Williams Capital Partners
Ohio Home Rescue Fund
Low- and moderate-income households that are in danger of losing their homes should contact:
1-888-995-HOPE (4673)

This toll-free hotline managed by the Homeownership Preservation Foundation (HPF) is open 24 hours per day, seven days per week. Callers will be connected to a nonprofit counselor who will provide telephone-based budget counseling assistance, customer triage and negotiation with lenders, when appropriate. If more assistance is needed, callers will be referred to a local nonprofit organization whose employees are certified to provide intensive financial counseling and direct consumers to local services and resources, including possible assistance through the Ohio Home Rescue Fund.

Background

In July 2006, the Ohio Department of Development's Office of Housing and Community Partnerships awarded a $1 million grant to Neighborhood Housing Services of Greater Cleveland, in partnership with 11 other nonprofit organizations, to create the Ohio Home Rescue Fund, a statewide foreclosure prevention fund. The partner agencies are: Columbus Housing Partnership; Corporation for Ohio Appalachian Development; East Akron Neighborhood Development Corporation; Home Ownership Center of Greater Cincinnati; Neighborhood Conservation Services of Barberton; Neighborhood Development Services; Neighborhood Housing Partnership of Greater Springfield; Neighborhood Housing Services of Hamilton; Neighborhood Housing Services of Toledo; Rural Opportunities, Inc. Ohio; and St. Mary Development Corporation.
The Ohio Home Rescue Fund is part of a larger foreclosure prevention initiative that includes a public education campaign, marketing and outreach efforts, telephone and face-to-face counseling, loss mitigation for the community, lenders and homeowners, and training for nonprofit counselors and consumers.
The Fund is expected to leverage more than $1.6 million of other public and private funds and provide financial assistance to an estimated 333 low- and moderate-income families in Ohio (up to $3,000 per household) that are in danger of losing their homes through foreclosure.
The Ohio Home Rescue Fund is funded through the Ohio Housing Trust Fund Discretionary Grant Program, which provides funding to eligible organizations to create housing opportunities, expand housing services and improve housing conditions for low- and moderate-income families and individuals.

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