If you need help paying your mortgage, you can apply for free foreclosure assistance in Ohio. This assistance is available in all cities in Ohio, including Cleveland, Cincinnati and Columbus. There is support from both non-profit organizations and the government. There are other assistance programs offered by the state of Ohio that can help you with paying other types of bills. You can find out more about these programs by calling one or more of the agencies below.
The Ohio Housing Finance Agency (OHFA) Opportunity Loan Refinance Program assists homeowners that are struggling to pay their mortgage or that have a mortgage that no longer meets their financial needs. This assistance program offers those that qualify an affordable 30-year, fixed-rate mortgage. This means that your monthly payments will remain the same for the next 30 years, no matter what happens to interest rates. This can give you peace of mind and help you budget for the long term. The Ohio resident can refinance the loan at a lower interest rate over time, which will lower the monthly payment. This will help people keep their homes and not lose them to foreclosure.
This program may help those who are struggling with mental health issues. If you are having trouble with your adjustable rate mortgage or high interest loan, you may be able to find relief with this option. It can also assist those who experienced an unplanned event like a divorce, medical emergency, or loss of employment. The Opportunity Loan Refinance Program can help you get a new mortgage loan that will better suit your needs. Give the phone number a call to learn more.
Some things to note about the OHFA program are listed above. There are some more things that need to be met, including:
To qualify for an Opportunity Loan, you must have the financial means to make the loan payments. You may not have moved out and be renting it out. You generally must prove residency with a driver’s license, utility bills, or a voter registration card. Properties that are eligible to be refinanced include single-family homes, townhouses, condos, modular homes, and planned unit developments. Two to four-unit mobile or manufactured homes are currently not allowed. This means that people who take out these loans will need to receive at least four hours of counseling from a non-profit agency that is approved by HUD. Typically, the mortgage counseling provided includes four hours in total during an initial meeting and an additional one-on-one counseling session.
Counselors from HUD-approved agencies can provide guidance on budgeting and ensure that bills are paid on time. All counseling related to the loan must be completed before the loan can be closed. If a mortgage payment under the newly refinanced loan is more than 30 days late, the OHFA assistance program will require counseling. To apply for mortgage help from OHFA, call (614) 466-7970.
Assistance from Save the Dream
This is a partnership of non-profit agencies, the federal government’s Department of Housing and Urban Development (HUD), as well as the state of Ohio. If you are struggling to pay your home mortgage, you can get help by asking for referrals. The program is funded by NeighborWorks America and the U.S. Department of the Treasury. Borrowers can meet with a housing specialist to discuss their options. If you need help, please call 888.404.4674 to speak to someone.
Countrywide offers mortgage modification help along with a cash payment to over 12,000 Ohio residents
The Keep Ohio Home program is a mortgage-modification assistance program that could help thousands of Ohioans stay in their homes. This cash grant program could help thousands of families who have lost their homes due to foreclosure by providing them with up to $1,500. More information on Countrywide Ohio’s mortgage relief program.
Ohio free foreclosure services
The agency Pathstone has been around for 45 years and provides services to help people avoid foreclosure, such as counseling and advice. These services are free of charge. The programs offered by the non-profit agency are available in Cleveland and Cincinnati. If you are facing foreclosure, Pathstone may be able to help you.
Courts in Ohio allow mediation
Each county in Ohio offers mediation as a way to help people who are going through a foreclosure. The foreclosure mediation process will help the homeowner and lender communicate more effectively to find a solution to the foreclosure filing. A mediator will be present during this process. This means that there are ways to pay for something or to make it more affordable. This could include a payment plan where you pay for something over time, or an abatement, which is a reduction in the amount you owe. The Ohio foreclosure mediation program is a way for people who are struggling to keep their homes to work with their lenders to find a solution.
Federal government funds for Ohio Hardest Hit Fund
As many as one thousand Ohio homeowners who are struggling to make their mortgage payments could be eligible for help from the Ohio Hardest Hit Fund. This assistance comes in the form of a grant that can be used to cover a portion of the mortgage, making it more affordable and helping to prevent foreclosure. The government is providing funding for this option for borrowers. This program is designed to help people who are unemployed or have experienced a decrease in income. The government may give them a loan without requiring interest payment for several months to help them pay their mortgage.
Free pro bono foreclosure legal aid
If you are a low-income homeowner who is facing foreclosure, you may be able to get free legal advice from an attorney. The state also provides advice to senior citizens, regardless of their income. The Ohio Legal Assistance Foundation is a organization that helps coordinate different programs. If you are facing foreclosure in Ohio, you may be able to get free legal assistance from Ohio Legal Services.