OHFA RECEIVES $1.4 MILLION NATIONAL FORECLOSURE MITIGATION COUNSELING GRANT

June 17, 2011

by Ohio RealEstateRama

Category: News || Foreclosures, Grants | No Comments

Grant will provide help for Ohio homeowners in danger of losing their homes

COLUMBUS, OH – June 17, 2011 – (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) has been awarded $1,461,561 to continue supporting the availability of foreclosure counseling and prevention services across the state.

The grant was awarded through the National Foreclosure Mitigation Counseling (NFMC) Program, created by Congress in 2007, to help families at risk of foreclosure by connecting them to trained housing counselors. The NFMC Program is administered through a competitive application process by NeighborWorks America. NeighborWorks America is an independent, Congressionally-chartered non-profit organization based in Washington, D.C., with a mission to provide access to sustainable homeownership and safe, affordable rental housing.

To date, OHFA is the state’s largest recipient of NFMC funding, with over $9 million awarded since April 2008. “OHFA uses NFMC funds to partner with local housing counseling agencies located throughout the state to provide counseling services and negotiations with loan servicers on behalf of homeowners,” said Doug Garver, Executive Director for the Agency. “Since 2008, OHFA grantees have utilized NFMC funding to provide counseling services to nearly 22,000 Ohioans facing mortgage distress. This grant will provide services to an estimated 5,000 distressed homeowners.”

NFMC awarded $31.7 million to 37 housing finance agencies and $36 million to 101 organizations in this round of funding. Funding through the NFMC program has provided foreclosure counseling to more than 1.1 million households. An estimated 184,000 families nationally are expected to be helped with the most recent round of awards.

For additional information on the grant visit www.nw.org/.

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About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven-member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the State of Ohio. OHFA is also an active partner in the interagency team which coordinates the Save the Dream Ohio initiative designed to stop preventable foreclosures.

Media Contact: Arlyne Alston
Email: aalston (at) ohiohome (dot) org
Phone: 614.387.2863