[OPLINLIST] ICYPA - Press Release from the Ohio Department of Commerce - Regarding Mortgage Foreclosures

[Frank Atkinson]

In Case Your Patrons are looking for information on troubled home loans..
there's also a link to the department's web site
www.com.state.oh.us/dfi/dfipub.htm,  the federal website (www.hud.gov
<http://www.hud.gov/> ) and a toll free number..

 

 

FOR IMMEDIATE RELEASE                                         Contact:
Dennis Ginty at (614) 644-9564

FEBRUARY 5, 2007
or Denise Lee at (614) 644-7115 

 

OHIO DEPARTMENT OF COMMERCE OFFERS

NEW PUBLICATIONS TO HELP OHIOANS PREVENT FORECLOSURE

 

(Columbus) -- Director of Commerce Kimberly A. Zurz today announced the
availability of two new publications to assist Ohioans who are facing the
possibility of home foreclosure.  Zurz announced the two complementary
publications:   "Foreclosure -- Don't Let It Happen To You" and "Foreclosure
Prevention:  'Work Out' Resolutions," at a Columbus news conference kicking
off National Consumer Protection Week (February 4 - 10).

 

Zurz, who as state senator co-sponsored the Homebuyers' Protection Act to
strengthen Ohio's mortgage lending laws, expressed concern about the record
number of foreclosures in Ohio.  The Act went into effect on January 1,
2007.  

 

"Governor Strickland and I are very concerned about the number of
foreclosures in our state, and we want to provide Ohioans with information
that can help them stay in their homes," said Director Zurz. "I hope our new
Commerce publications will help homeowners better understand the foreclosure
process or obtain assistance should they already be in default."

 

The new publications, created by the department's Office of Consumer Affairs
(OCA), stress the importance of calling the lender as soon as possible to
explain the circumstances that the borrower is facing.  

 

"Fortunately, many lenders understand that individuals and families can face
temporary job loss, serious illness or other major life events that can
impact their ability to pay their mortgage," Director Zurz said.  "The
important point to remember is to contact the lender at the first sign that
you will have a problem making your mortgage payment."  

 

The OCA offers the following foreclosure prevention tips:

*	If you are having trouble making your mortgage payment, review your
monthly expenses to determine what areas you can reduce or eliminate
*	If you determine that you cannot afford your current home, consider
selling it and moving into another home or an apartment with lower housing
costs

*	Seek help from one of your area's HUD approved counseling agencies.
A list can be found at www.hud.gov <http://www.hud.gov/>  or by calling toll
free 1-800-569-4287.  

 

In addition, Director Zurz encourages Ohioans to be aware of foreclosure
assistance schemes that promise to get citizens out of foreclosure for a
"small fee."  The new brochures and other publications are available on the
department's website at www.com.state.oh.us/dfi/dfipub.htm or by calling the
OCA toll-free hotline at 1-866-278-0003.

 

 

These news releases are sent to individuals who have signed up for them
through the Department of Commerce Website. If you do not wish to received
them, please contact karen.bowman at com.state.oh.us

 

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