Save The Dream Ohio

Save the Dream Ohio : Information for Families

Consumers who had their loans serviced by one of the five servicers, and lost their home to foreclosure between January 1, 2008 and December 31, 2011, may be eligible for a payment. Due to the complexity of the mortgage market and this agreement, which will be performed over a three-year period, borrowers will not know immediately if they are eligible for relief. Eligible consumers will be contacted by a settlement administrator if they are eligible. This process may take six to nine months.

Even if consumers are not contacted, if their loan was serviced by one of the five settling banks, they are encouraged to contact their servicer to see if they are eligible.

The amount of money each consumer will receive has not been disclosed. More information will be made available as the settlement programs are implemented. Updates will be posted online at www.nationalmortgagesettlement.com.

Loans owned by Fannie Mae or Freddie Mac are not impacted by some portions of this settlement. Consumers may visit the following websites to learn if their loan is owned by either Fannie Mae or Freddie Mac:

IMPORTANT: Save the Dream Ohio encourages consumers who are struggling and need immediate assistance to apply for the state’s foreclosure prevention program, Restoring Stability: A Save the Dream Ohio Initiative. Homeowners may apply online or over the phone at 888-404-4674.