Save the Dream Ohio: Programs
After accepting approximately 35,000 applications for assistance, OHFA began winding down its foreclosure prevention program, Save the Dream Ohio, in August 2014, but continues to serve existing customers. Funds have been disbursed on behalf of homeowners residing in all 88 Ohio counties, concentrating primarily in the northeast and southwest corners of the state and central Ohio, and will continue to be disbursed through 2017.
- Mortgage Payment Assistance, which paid up to 18 months of full mortgage payments for unemployed and underemployed homeowners.
- Rescue Payment Assistance, which provided a payment to a homeowner's mortgage servicer to help bring the homeowner current on their delinquent mortgage.
- Mortgage Modification with Contribution Assistance, which made a payment to mortgage servicers to reduce a participating homeowner's mortgage principal in connection with a loan modification.
- Homeownership Retention Assistance, which assisted homeowners by making a payment on subordinate property liens and other ancillary costs such as delinquent property taxes and homeowner/condo association dues.
- Transition Assistance, which offered relocation assistance in connection with an approved short sale or deed-in-lieu of foreclosure.
- Lien Elimination Assistance, which extinguished existing liens by providing a payment to a participating homeowner's mortgage servicer.
For specific financial information regarding the programs, please visit the Ohio Housing Finance Agency website.