Struggling Homeowner Help

State of Ohio Announces New Resources for Struggling Homeowners

Ohio has been awarded $570 million from the U.S. Department of Treasury's Hardest-Hit Fund to help homeowners avoid foreclosure. The Ohio Housing Finance Agency (OHFA) will administer Restoring Stability: A Save the Dream Ohio Initiative, to help an estimated 46,000 families who are at high risk of default or foreclosure. These new resources will help people, especially unemployed homeowners, who haven't been able to use existing foreclosure prevention programs.

Homeowners began submitting applications online and over the phone on September 27, 2010 through Save the Dream Ohio and 1 (888) 404-4674. For faster service, we encourage homeowners to visit the website to begin the registration process so their information may be immediately forwarded to a specialized housing counselor in their local area. All applicants will be referred to housing counseling agencies who will then work with homeowners throughout Ohio to help them qualify for assistance. A list of the participating housing counseling agencies is posted on OHFA's website.


Ohio designed four programs to help homeowners who have a temporary or permanent reduction in income. Programs will include:

  • Modification Assistance with Principal Reduction Program - This program will provide an incentive payment matched by an investor to reduce the mortgage principal balance so a loan modification may be possible.
  • Partial Mortgage Payment Assistance Program - This program will provide up to 15 months of assistance for unemployed homeowners while they search for a job or participate in job training.
  • Rescue Payment Assistance Program - This program will provide a payment to the mortgage lender to help delinquent borrowers become current on their first mortgage.
  • Transition Assistance Program - This program will provide an incentive payment to the mortgage lender and homeowner to assist with short sale or deed-in-lieu agreements to help homeowners exit their homes gracefully.

View the eligibility and how to sign up page for more information.