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Home > Blogs > Greene County News > Archives > 2009 > January > 14 > Entry
More foreclosure help on the way
XENIA — Greene County Commissioners decided Tuesday, Jan. 13, to update the county mortgage assistance program in hopes more people will apply for the help.
Commissioners voted to change the now available $5,000 loan for homeowners behind on their mortgages to a $5,000 grant.
Since the program was instituted in 2007, 25 homeowners have requested applications, but only three loans have been made by the county department of development, said Melanie Brammer.
“The loan just isn’t working,” Brammer said. She added that homeowners already behind on a loan likely don’t want to add another one.
The county has $105,000 left of the original $120,000 of state funds granted to the county. The money must be spent by June 30.
In order to qualify for the grant homeowners must meet one of the following criteria as the reason for being behind on payments: Recent divorce, death of head of household or spouse, job loss, major illness or predatory lending.
Applicants must also show they can make their mortgage payments moving forward. Applications for the up to $5,000 grants will be considered on a first come first serve basis, Brammer said. The three outstanding loans will be converted into grants.
Commissioners also agreed Tuesday to be the lead agency for the disbursement of funds from the Housing and Economic Recovery Act of 2008 which will help municipalities offset the impact of foreclosures. Read more about that program in the 1/22 Neighbors edition. Or contact the department of development at 937-562-5642.
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