State treasurer: Home foreclosure help on way
Tuesday, April 22, 2008
DAYTON — Help is on the way to avoid home foreclosures, Ohio Treasurer Richard Cordray and Montgomery County officials announced on Tuesday, April 22.
The plan would expand a home foreclosure prevention program into Montgomery County.
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Empowering and Strengthening Ohio's People, a Cuyahoga County based organization, has arrangements with 34 lenders to negotiate loan "workouts" to help keep people from losing their homes.
An ESOP official held a workshop Tuesday with area community groups to help them connect homeowners with the program.
"We need to have a way to much more systematically arrange loan workouts for people," said Cordray.
Cordray called ESOP the "single most effective group in Ohio" assisting people in preventing home foreclosure.
