Ohio to receive an additional $250M in federal aid to help homeowners prevent foreclosure

Ohio to get almost $250M in federal housing aid

COLUMBUS, Ohio — Ohio will get an additional $250 million in federal funds to help struggling homeowners prevent foreclosure.

The state plans to use the money to expand options for homeowners who are at risk of defaulting on their mortgage payments because of unemployment or financial hardship.

The U.S. Treasury Department has already awarded $320 million to Ohio from its Hardest-Hit Fund to help homeowners avoid foreclosure. The state had estimated the money would help 26,000 families. Officials expect to assist thousands more with the new federal dollars.

The state on Monday started taking applications from at-risk homeowners for the federal funds. So far, more than 2,700 people have begun the application process.