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Ohio, with the beautiful hills, flat lands and incredible autumn landscape is among the most sought after Midwest states in which to live. Home to many well known Amish communities, as well as other non traditional communities, your home in Ohio puts you within easy reach of some great hunting, fishing, hiking, and boating, so preventing mortgage foreclosure in Ohio is of paramount importance to you.
The government mortgage help that Ohio offers, fortunately is extensive. While the housing boom never really took place in Ohio, according to Forbes, earlier this year, it is till going through a real estate bust regardless.
The foreclosures in Ohio hit a new high this year, with more than 11,200 in February, or one in every 450 households dealing with some type of foreclosure or preforeclosure activity. Statistics sound some completely impersonal, but the simple truth is that if you’re among those people who are faced with the possibility of losing their home, it’s suddenly not so impersonal or statistical, its frightening. You want to do whatever you can to assure that the home you love is safe and remains in your hands.
What does the Ohio government have to offer you? Is there Ohio government mortgage help, or are there programs in place that will get you out of the hole and back on the positive side? There can be several ways that you have to choose from. Both the federal government as well as Ohio government have foreclosure prevention programs in place that may be able to assist you in keeping your home.
The Ohio government brings you programs such as their Compact to Help Ohioans Preserve Home ownership, which was the first of its kind in the nation, signed last year. The Ohio government worked with loan servicing companies to assure that there was a way for Ohioans to help preserve their home ownership status.These companies pledged to work with the state of Ohio to prevent foreclosures on Ohio homes to the fullest extent of their ability. To find out more about the Compact to Help Ohioans Preserve Home Ownership, and apply for the programs that may help you, visit the website.
Ohio’s programs also include the Save the Dream program, which is geared toward offering help to Ohio residents who find themselves in danger of losing their home for multiple reasons. You will find multiple ideas and resources available to you on the Save the Dream website, or phone The Save the Dream hotline number is 1-888-404-4674.
In addition to the Ohio Save the Dream programs, there are multiple federal programs in place which were begun by the Obama adminstration’s mortgage incentives plan. Among those incentives are the ability to refinance, to at times skip payments or to receive counseling about your mortgages. The HUD counselors for Mortgage Prevention Counseling are available to you free of charge, and may be able to help you communicate with your lender or servicer and set up a new arrangement that could allow you to keep your home ownership intact.
Additionally the HUD HOPE FOR HOMEOWNERS program is being well received in Ohio and has proven effective in assisting home owners to keep their homes and work out lower interest loans, deferred payments, counseling and other benefits. If you’re in danger of losing your home, or are behind at least one payment, it will be to your advantage to contact the HUD programs, or at least visit the Mortgage Prevention pages to see what HUD or FHA may have to offer you.
The Housing and Urban Development pages also offer you the Guide to Avoiding Foreclosure pages that will put you in touch with information that can help you to keep your home, HUD approved mortgage counselors that are specific to the state of Ohio and will have more information about your situation, as well as other advantages and resources to offer you. The Guide to Avoiding Foreclosure is available to you online, or you may contact Housing and Urban Development by telephone at +12027081112
Your dream was to own a home in Ohio. Don’t let the economy or your own fears permit you to lose that dream. Taking full advantage of every program and every offering that is out there in Ohio to assist you may just mean that you end up keeping your home. If there’s a chance that you can, taking it only makes good sense.
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