FOR IMMEDIATE RELEASE
Monday, October 2, 2017
Media Contact: Molly Moses
OHFA Expands Hardest Hit Fund Programs to Improve Ohio's Communities
COLUMBUS - Save the Dream Ohio (SDO), a Hardest Hit Fund initiative by the Ohio Housing Finance Agency (OHFA), has expanded its programs to assist homeowners with certain types of disabilities, not just those who have experienced unemployment. Homeowners may be eligible for up to $35,000 in assistance to pay delinquent property taxes, reinstate mortgages and make monthly mortgage payments.
The expanded program began assisting homeowners on September 26, 2017. Interested homeowners should visit savethedreamohio.gov or a participating housing counseling agency in their area.
In September 2016, OHFA reopened the Save the Dream Ohio program to accept more applications from homeowners experiencing hardships. An additional $25 million in Hardest Hit Fund dollars were allocated to help Ohio homeowners avoid foreclosure.
Over the last twelve months, Save the Dream Ohio has disbursed $10.3 million to help homeowners struggling to keep their homes. Since the beginning of the program, SDO and OHFA have helped over 25,000 homeowners receive $434 million is assistance from Hardest Hit Fund programs.
To further stabilize Ohio's communities, OHFA also approved an additional seven land banks for participation in the Neighborhood Initiative Program (NIP), which provides funding for the demolition and greening of vacant or blighted properties. A total of 44 counties are now participating in the program to stabilize local impacted neighborhoods.
Since the beginning of 2017, NIP has funded the demolition of 1,529 blighted properties across Ohio and disbursed $24.5 million in funding. To date, the program has spent $79.3 million and demolished over 5,500 properties in Ohio.
The Neighborhood Initiative Program is also funded by the Hardest Hit Fund®. For more information, visit http://ohiohome.org/savethedream/neighborhoodinitiative.aspx.