The thought of foreclosure can be overwhelming and scary. Losing a home can be difficult and emotional for any homeowner. Unfortunately, Ohio has the highest foreclosure rate within the Great Lakes region. With that being said, Ohio offers Short Sale Re assistance. This assistance can make the process less stressful and offer more options to keep the homeowner from ending up with a foreclosure. In this post, we will discuss what Short Sale Re assistance is, how it works, and how Ohio’s expert Short Sale Re assistance can help you navigate foreclosure.
Short Sale Re assistance is a program designed to help homeowners who are struggling to make payments on their mortgage and may be facing foreclosure. The program offers relief to homeowners by negotiating with the lender to change the terms of the mortgage or to accept a lower payoff amount. This type of assistance is designed to help people who are in financial distress and unable to pay their mortgage or who have lost their job or had a reduction in income.
How Does Short Sale Re Assistance Work?
A short sale is a type of Short Sale Re assistance that involves selling the property for less than what is owed on the mortgage. The lender agrees to the sale and absolves the homeowner of the difference between what is owed and what the property sold for. A loan modification is another type of Short Sale Re assistance that involves changing the terms of the mortgage to make the payments more affordable. This can include reducing the interest rate, extending the term of the loan, or lowering the principal balance.
How Can Ohio’s Expert Short Sale Re Assistance Help You Navigate Foreclosure?
Ohio’s expert Short Sale Re assistance can help you navigate foreclosure by providing you with a team of experts who specialize in foreclosure prevention. These experts will guide you through the process of applying for Short Sale Re assistance and will provide you with all the information you need to make an informed decision. They will also negotiate with your lender on your behalf to get the best possible deal. The Ohio Housing Finance Agency (OHFA) offers different programs that can help you.
The Save the Dream Ohio program offers mortgage payment assistance to Ohio homeowners who have fallen behind on their mortgage payments due to job loss, military service, or unexpected medical expenses. It also offers up to $25,000 in assistance to help Ohio homeowners bring their mortgage current.
Other programs offer assistance, such as the Home Rescue Fund, Restoring Stability Program, and the Hardest-Hit Fund. These programs are all designed to help you stay in your home and avoid foreclosure.
Facing foreclosure can be a difficult and emotional process. This type of assistance can help you avoid foreclosure and keep you in your home or sell you home without damaging your credit as much. Ohio offers a variety of programs that can help you navigate foreclosure, including the Save the Dream Ohio program, the Home Rescue Fund, Restoring Stability Program, and the Hardest-Hit Fund. Keep in mind that seeking assistance is not a sign of weakness, it’s a sign of taking control of your financial health. Don’t be afraid to reach out and ask for help.