Save the Dream Ohio winding down

Published 12:00 am Tuesday, September 12, 2023

COLUMBUS — The Ohio Housing Finance Agency has provided more than $197 million in assistance to Ohio homeowners through the Save the Dream Ohio program.

The program has helped nearly 29,000 Ohio households avoid foreclosure and/or utility shut offs. The state of Ohio was awarded $280 million from the U.S. Department of Treasury through the American Rescue Plan Act of 2021 for the program.

The Save the Dream Ohio program has two components: Mortgage Assistance, which is administered by OHFA, and Utility Assistance Plus, which is administered on OHFA’s behalf by local Community Action Agencies.

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The Mortgage Assistance component provides eligible Ohio homeowners with financial assistance to pay delinquent mortgage payments and/or future mortgage payments for up to six months. To date, more than $164 million has been encumbered for mortgage assistance, approximately $82 million for delinquent mortgage payments and $82 million for future mortgage payments.

OHFA is only accepting applications for assistance with delinquent mortgage payments. Funding for assistance with future mortgage payments has been exhausted. Applications are reviewed in the order in which they are received, and awards are subject to funding availability.

To date, the Utility Assistance Plus program, which helps homeowners pay utility bills, non-escrowed property taxes, and other qualified housing costs has helped more than 11,000 homeowners, totaling more than $33 million in assistance. Ohioans apply for Utility Assistance Plus through participating Community Action Agencies.

The Save the Dream Ohio applications will be accepted until all funds have been allocated. Submission of an application does not guarantee an award.