FOR IMMEDIATE RELEASE
Thursday, July 6, 2023
Media Contact: Penny Martin
More than $180 Million in Assistance Provided to Ohio Homeowners Financially Impacted by the Pandemic
Funding Prevented Foreclosures and Utility Shut-offs
COLUMBUS, OH - The Ohio Housing Finance Agency (OHFA) has provided more than $180 million in assistance to Ohio homeowners through the Save the Dream Ohio program. The program has helped nearly 26,000 Ohio households avoid foreclosure and/or utility shut offs. The state of Ohio was awarded $280 million from the U.S. Department of Treasury through the American Rescue Plan Act of 2021 for the program.
"Over the last year and a half, we have been working diligently to help eligible Ohio homeowners avoid foreclosure through the Save the Dream Ohio program," said Shawn Smith, Executive Director of the Ohio Housing Finance Agency. "Working with partners across the state, we helped Ohioans recover from the financial impact of the pandemic."
The Save the Dream Ohio program provides assistance to eligible Ohio homeowners who are facing foreclosure or cannot afford to pay their mortgage, utility bills or other related housing costs as a result of economic hardship caused by the COVID-19 pandemic.
Applications are reviewed in the order in which they are received, and awards are subject to funding availability. The Save the Dream Ohio applications will be accepted until all funds have been allocated. Submission of an application does not guarantee an award.
The program will remain available until funding is allocated or through September 30, 2025.
Save the Dream Ohio is administered by the Ohio Housing Finance Agency (OHFA) and is being supported, in whole or in part, by federal award number HAF0086 awarded to the State of Ohio by the US Department of the Treasury.