Friday, February 16, 2007

Ohio Gives a Million to Prevent Foreclosures

Kerri Panchuk 02.16.07

The Ohio Department of Development has generated $1 million in rescue funds to help distressed homeowners in their state. The donation will benefit the much larger Ohio Foreclosure Prevention Initiative — a statewide program that educates at-risk borrowers by referring them to a toll-free foreclosure prevention hotline. The statewide campaign involves NeighborWorks America, the Columbus Housing Partnership, and numerous other state and nonprofit agencies.Organizations in the network say foreclosure prevention is crucial since foreclosures are leaving black stains on entire neighborhoods and costing the community upwards of $50,000 in foreclosure expenses. With that in mind, the state agencies believe it's more cost-effective to focus on loss mitigation.“Our partnership with NeighborhoodWorks America is helping Ohio's foreclosure crises through education and outreach, quality counseling and referrals to local nonprofit agencies,” said Amy Klaben, president and chief executive officer of the Columbus Housing Partnership.


I like to see the bigger State such as California, Texas, New York and Florida have programs to help prevent homeowners go into foreclosures .. Great Job Ohio!!

No comments:

Total Pageviews