Table of Contents
Is Save the Dream Ohio a loan?
Save the Dream has two components: Mortgage Assistance and Utility Assistance Plus. OHFA administers the Mortgage Assistance component and will provide eligible homeowners with assistance to pay delinquent mortgage payments and/or future mortgage payments for up to six months.
What is a mortgage rescue scheme?
What is mortgage rescue? Mortgage rescue is help that the Government is offering if: you are struggling to keep up with your mortgage payments; you have had all the help your lender is offering; and you are worried about having your home repossessed.
Do I have to pay back Save the Dream Ohio?
There are no fees associated with Save the Dream Ohio. The program runs through September 30, 2025. Ohio homeowners should visit savethedream.ohiohome.org or call 888-404-4674 to learn more about the program.
Does Ohio have mortgage relief program?
Ohioans can receive assistance with rent, mortgage, or utilities from the state of Ohio, through their local Community Action Agency (CAA). Check if you are eligible and apply at your local CAA.
Do I have to report 1098-Ma?
Form 1098-MA is for informational purposes and is not reported on the tax return. Do not include mortgage assistance payments as income.
What is a 1098ma?
This form is used to provide information to the IRS and to homeowners regarding: mortgage payments made by the homeowners, and. mortgage assistance payments made by you with funds allocated from the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HFA Hardest Hit Fund).
Do you have to pay back Hardest Hit Fund Illinois?
The total amount disbursed by IHDA is forgiven over the 5 year loan term starting from the date you sign the loan agreement. Funds may have to be repaid to IHDA if you sell your home at a profit or refinance during the 5 year loan term.
How do forgivable loans work?
A forgivable loan is a type of loan in which some (or all) of the amount can be forgiven or deferred if the borrower meets certain conditions. Since the loan balance is waived when the requirements are met, it is often considered a grant with conditions rather than a loan.
What is the hardest hit fund in Ohio?
In early 2010, the Hardest Hit Fund (HHF) was established to address the foreclosure crisis in Ohio. HHF helped to speed economic recovery and stabilize the housing market by distributing much-needed funds to homeowners and neighborhoods across the state.
What is the Mississippi hardest hit Fund/Home Saver program?
Information on the Mississippi hardest hit fund / Home Saver Program. The Mississippi Home Corporation has received federal government funds that will be used to create the Home Saver / Hardest Hit Fund.
What does the home saver-hardest hit fund mean?
So what that in effect means is that the homeowner will not need to repay the loan, and the maximum of $36,000 is provided free of charge to the homeowner. To learn more about the Home Saver – Hardest Hit fund, call the Mississippi Home Corporation at 601-718-INFO.