About Us
The Save the Dream Ohio (SDO) campaign is a multi-media foreclosure prevention effort aimed at helping Ohioans take action to save the dream of homeownership. Since 2008, SDO has provided a unified and coordinated statewide response to the dramatic increase in foreclosures in Ohio.
The SDO hotline is an easily accessible, centralized resource for foreclosure information and referrals. Initially operated by the Ohio Department of Development’s Office of Community Services and the Attorney General’s Office Help Center, the hotline operations were consolidated into one call center housed within the Ohio Housing Finance Agency (OHFA) in 2010.
Established in March 2007, the Foreclosure Prevention Task Force issued a report in September 2007 with 27 recommendations on how Ohio could stem the foreclosure crisis. The task force’s number one recommendation was for a public awareness campaign to encourage homeowners to contact their mortgage servicer if they are having trouble making their mortgage payment or are facing a reset of an adjustable rate mortgage. SDO responded to the state’s demand by hosting borrower outreach events and providing thousands of Ohioans with practical foreclosure prevention resources, information and assistance.
The Ohio Housing Finance Agency is pleased to announce important changes that will help even more Ohioans avoid foreclosure. Starting January 1, 2012, more unemployed and underemployed Ohioans may be eligible for mortgage assistance through Restoring Stability: A Save the Dream Ohio Initiative. Learn more about the program enhancements.
Homeowners who are in foreclosure, delinquent, or fear they may miss a mortgage payment may call the Save the Dream Ohio hotline at 888-404-4674.
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Important Announcements
National Mortgage Settlement
Ohio Attorney General Mike DeWine announced that the proposed settlement with Bank of America, JPMorgan Chase, Wells Fargo, Citibank, and GMAC will result in approximately $25 billion dollars in monetary sanctions and relief. The national settlement follows nearly a full year of intensive negotiations between the five banks/servicers and a coalition of state attorneys general and federal agencies, including the Departments of Justice, Treasury, and Housing and Urban Development.
The resulting settlement addresses the primary goals of the multistate settlement to provide immediate relief to enable struggling homeowners to avoid foreclosure; to bring badly needed reform to the mortgage servicing industry; to ensure that foreclosures are lawfully conducted; and to penalize the servicers/banks for robo-signing and servicing misconduct. This $25 billion settlement is the largest settlement reached by Attorneys General since the historic tobacco settlement. Read more about the announcement in a recent press release.
For more information on this settlement, including frequently asked questions and the settlement document itself, please visit www.nationalmortgagesettlement.com.
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