Mortgage program to help Ohio’s jobless

September 28, 2010 at 12:00a.m.

By MARC KOVAC

COLUMBUS

State officials began accepting applications Monday for a federally funded program that will provide mortgage assistance for unemployed Ohioans.

An estimated 26,000 people are expected to secure partial mortgage payments, loan modifications and other services through the new Restoring Stability initiative, launched by the Ohio Department of Commerce and the Ohio Housing Finance Agency.

The state received close to $320 million in federal funding for the program. State Commerce Director Kimberly Zurz and housing finance agency Executive Director Douglas Garver announced the funding Monday during a press conference near the Statehouse.

The program is being targeted at unemployed homeowners who are seeking new jobs and need mortgage assistance during the interim. Eligible applicants can receive up to $15,000 in partial payments, sent directly to their mortgage lenders, plus other assistance, including housing counseling.

Additional information about the program is available online at www.savethedream.ohio.gov.