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This morning, Franklin County Commissioners were joined by Douglas Lumpkin, Director of Franklin County’s Job and Family Services Department to discuss a program to address the mortgage foreclosure issue affecting many in Franklin County.
During the Commissioners’ General Session Meeting, Commissioners approved a proposal to use Prevention, Retention and Contingency (PRC) funds for foreclosure prevention assistance. This action comes after a series of community discussions and a bus tour convened by Commissioners to address the impacts made by the rising foreclosure rate on government operations as well as residents and families.
“This program expansion is about families,” said Commissioner Marilyn Brown. “It is about keeping them stable in their homes and about providing them with the counseling and financial literacy programs they need to be successful.”
Commissioners noted that the need for this type of assistance has arisen due to the drastic increase in foreclosure rates in Franklin County and Ohio. Foreclosure filings in Franklin County have increased 74.8 percent since 2001.
“I’ve seen how this crisis devastates neighborhoods and property values, and hurts hard working people who just want to own a home of their own and live the American dream,” said Commissioner Mary Jo Kilroy. “This program is the right thing to offer people who might otherwise not have many options to keep their families in a warm home.”
“This program reaches middle class families and aims to stop neighborhood deterioration,” said Commissioner Paula Brooks. “Unprecedented levels of home foreclosures lead us to take this action today.”
The program will provide a one-time payment (per state fiscal year) of up to $3,000 on behalf of eligible homeowners to cover delinquent mortgages in order to prevent foreclosure. In addition to the financial payment, the foreclosure assistances will provide supportive services such as counseling and other personal financial management practices.
Eligibility requirements include:
- The household’s property must be their primary residence
- The household’s gross income must be less that or equal to 300 percent of the Federal Poverty Level
- The household must provide 1.) a notice of foreclosure from the lender; 2.) a statement from the lender that their mortgage is at least 60 days delinquent; or 3.) delinquent information deemed appropriate by FCDJFS
- The household must provide verification of the ability to maintain monthly housing and utility expenses
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