The first resource for Ohioans is the Foreclosure Prevention Hotline through the Ohio Housing Finance Agency (OHFA) at 1-888-404-4674 and online at www.savethedream.ohio.gov The agency is ready to provide helpful support near you. Their site has a resource page to assist homeowners avoid foreclosure. The people who answer the phone can refer you to a local HUD approved housing counseling agency with the background, knowledge and experience to provide useful information about foreclosure prevention.
The Legal Aid Society of Columbus has a video series on YouTube. Part three is “Make Your Action Plan” and is found at:
[ View foreclosure resources text transcript ]
Talking about your foreclosure issues with people you trust can help you deal with the stresses that foreclosure brings. Your faith-based community leader may be where you want to go for emotional support if you need it at this time. That person can support both you and your spouse or significant other affected by the situation. Depending on the age of children, you may want to inform them to some extent about what is happening and why cutting back on expenditures are necessary. Well-meaning friends and relatives may offer suggestions or make statements about foreclosure with the best of intentions and believe they are passing along factual information. Remember the credentialed professionals have correct information and can explain to you the differences between several loss mitigation options and other steps available to you and their advantages and disadvantages to consider.
Know that having a complaint filed against you does NOT mean you vacate your home. Stay in your home! No one has the right to inspect your home or come on your property, no matter what some scammers may tell you. You should stay in your home during the entire foreclosure process. You only have to leave your home if your home is sold at the sheriff’s sale AND after the sale is registered with the court.
The foreclosure process
To understand the foreclosure process better in addition to contacting the agencies above,get informed by accessing resources on the Internet. A foreclosure checklist is made available from the Consumer Financial Protection Bureau (CFPB) at: http://files.consumerfinance.gov/f/201312_cfpb_foreclosure-avoidance-checklist.pdf. This checklist is mentioned in the video from the Legal Aid Society of Columbus.
Ohio non-profit legal services are available at: avoidforeclosureohio.org. It is a partnership between the Ohio Legal Aid, Ohio Poverty Law Center, and ProSeniors and has trustworthy advice.
Again, the website for Ohio Housing Finance Agency is: ohiohome.org which has a resource page to help avoid foreclosure.
NeighborWorks America has a tab titled “Homes & Finances.” Under that you are able to click “Foreclosure.” There you will find a description of several programs available to you.
Making Home Affordable has a tab for Military Resources. There is information about the Home Affordable Foreclosure Alternatives (HAFA) for military homeowners permanently displaced by a job-related move. Military homeowners may qualify for a mortgage modification. There is also information about the Obama Administration’s program to assist troubled homeowners with refinancing or loan modifications.
The Housing and Urban Development Department has a site at: hud.gov. Under the tab of “Topic Areas” you will find a link to avoiding foreclosure.
The Homeowner’s HOPE Hotline: 995hope.org has five links to saving money. The links are Credit Cards; Food Savers; School Saving; Saving while Eating Out; and Utility Savings.
Next week is the final blog posting for the first series – “What is foreclosure?” The topic will be “How to respond to a foreclosure filing.”
Sources: DeMatteo, B. (2015). Neighborhood lifelines: Preventing foreclosure in your community. A PowerPoint presentation is available through Ohio State University Extension. Contact your local Family and Consumer Sciences Educator at: www.yourcounty.osu.edu
