Save the Dream Ohio: Programs
Save the Dream Ohio is comprised of six programs designed to assist Ohio homeowners who have experienced a financial hardship and are at-risk of mortgage loan default or foreclosure. The program is free and can provide homeowners up to $35,000 depending on the programs utilized.
Save the Dream Ohio programs include:
- Mortgage Payment Assistance (MPF)
Provides up to 18 months of full mortgage payments for unemployed and underemployed homeowners.
- Rescue Payment Assistance (RPA)
Provides a payment to a participating homeowner's mortgage servicer to help bring the homeowner current on their delinquent mortgage.
- Mortgage Modification with Contribution Assistance (MCA)
Provides a payment to mortgage servicers to reduce a participating homeowner's mortgage principal in connection with a loan modification. A payment can also be provided to allow the homeowner to request a recast or re-amortization of their first mortgage lien.
- Homeownership Retention Assistance (HRA)
Provides a payment to assist homeowners with subordinate property liens and other ancillary costs such as delinquent property taxes and homeowner/condo association dues. Mechanics and tax liens are excluded from the program.
- Transition Assistance
Provides homeowners who cannot sustain homeownership with an alternative to foreclosure by offering relocation assistance in connection with an approved short sale or deed-in-lieu of foreclosure.
- Lien Elimination Assistance
Provides a payment to a participating homeowner's mortgage servicer and other lienholders to extinguish existing liens.