Ohio's Hardest Hit Program: Save the Dream Ohio

Ohio's Save the Dream Ohio program helps struggling homeowners avoid foreclosure.

In 2010, the U.S. Department of the Treasury created the Hardest Hit Fund to provide targeted aid to homeowners in the 18 states most affected by the housing market crash. As part of this program, Ohio received over $570 million to provide assistance to distressed homeowners facing foreclosure. Additional funding was approved in 2016. (To learn more about the Hardest Hit Fund and the various state programs funded by it, visit our Hardest Hit Fund topic page. For articles on foreclosure procedures in Ohio and other ways to get help, visit our Ohio Foreclosure Law Center.)

About Save the Dream Ohio

The Save the Dream Ohio program is designed to help homeowners stay in their homes and avoid foreclosure. If you're eligible, you can get up to $35,000 to get current on a delinquent first mortgage and/or make your mortgage payments for up to nine months.

    How the Program Works

    Assistance is provided in the form of a 0% interest, non-amortizing, forgivable loan secured by a junior mortgage that is recorded against your property. The mortgage balance is forgiven over a five-year period at 20% per year. At the end of five years, the loan is totally forgiven.

    If you sell or refinance your home before the five years is up, you must repay any outstanding portion of the loan, but only if there are proceeds from the sale or refinance.

    Borrower Eligibility

    To be eligible for Save the Dream Ohio assistance, you must meet the below general criteria.

    • Your total household income is $112,375 or less.
    • You must owe less than $432,500 on your mortgage.
    • If you filed bankruptcy, the bankruptcy must not be discharged or dismissed.
    • You must be currently receiving unemployment or you qualified for unemployment on or after January 1, 2014.

    Home Eligibility Criteria

    Additionally, your existing mortgage and the property securing the mortgage must meet the below criteria.

    • The property is in Ohio.
    • The home is your primary residence.
    • The propertyis a single-family home, a condominium, or a one-to-four unit dwelling.

    Manufactured homes are eligible for assistance if titled as real estate. Learn more about what happens if you are struggling to pay your manufactured home loan.

    Servicer Participation

    Servicer participation in the Save the Dream Ohio program is voluntary. (A mortgage servicer is the company that collects monthly mortgage payments from borrowers on behalf of the owner of the loan, as well as tracks account balances, manages the escrow account, handles loss mitigation applications, and pursues foreclosure in the case of defaulted loans.)

    To find out if your mortgage servicer is participating in the program, go to www.savethedream.ohio.gov.

    For More Information

    If you would like more information or if you have questions about the various types of assistance available from the Save the Dream Ohio program, you can:

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