To help homeowners who have a temporary or permanent reduction in income, starting September 27th a link to the following applications will be available to clients through the External Links Section of the Client Portal:
· Rescue Payment Assistance Program will provide a payment to the mortgage lender to help delinquent borrowers become current on their first mortgage.
· Partial Mortgage Payment Assistance Program will provide up to 15 months of assistance for unemployed homeowners while they search for a job or participate in job training.
· Modification Assistance with Principal Reduction Program will provide an incentive payment matched by an investor to reduce the mortgage principal balance so a loan modification may be possible.
· Transition Assistance 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.
Homeowners may begin submitting applications online or over the phone on September 27, 2010. Housing counseling agencies will then work with homeowners throughout Ohio to help them qualify for assistance.
Posts
