Save the Dream Ohio: Help for Homeowners ... - Columbus Urban League

Save the Dream Ohio: Help for Homeowners Frequently Asked Questions

Save the Dream Ohio provides financial assistance to eligible Ohio homeowners financially impacted by the coronavirus pandemic. The Ohio Housing Finance Agency, on behalf of the state of Ohio, received $280 million from the U.S. Treasury's Homeowner Assistance Fund for the program.

Save the Dream Ohio has two components: Mortgage Assistance and Utility Assistance Plus. The program aims to reduce the number of foreclosures and prevent the loss of utilities for homeowners across Ohio.

Save the Dream Ohio - Mortgage Assistance

What is the Save the Dream Ohio - Mortgage Assistance? The Save the Dream Ohio ? Mortgage Assistance provides eligible Ohio homeowner that have experienced financial hardship as a result of the pandemic with assistance to pay delinquent mortgage payments and/or future payments for up to six months. A homeowner may be eligible to receive up to $25,000 in combined mortgage assistance.

Who is eligible for Save the Dream Ohio Mortgage Assistance?

Homeowners with primary residence in Ohio, have experienced financial hardship or loss of income related to the pandemic, and have an income at or below the annual eligibility threshold for the household size (see chart below).

Persons in Family

1

2

3

4

5

6

7

8

$103,350 $118,200 $132,900 $147,600 $159,450 $171,300 $183,150 $194,850

Does Save the Dream Ohio assist with delinquent mortgage payments and future payments? Yes, Save the Dream Ohio ? Mortgage Assistance can assist eligible homeowners with delinquent mortgages current as well as make future payments for up to six months, for a combined total of $25,000..

What is the maximum amount of assistance a homeowner may receive? A homeowner may receive up to $25,000 in combined mortgage assistance (delinquent and future payments).

Does Save the Dream Ohio help a homeowner with outstanding property taxes? Yes, the Mortgage Assistance component of the program can assist with delinquent property taxes if the property taxes included in the mortgage payment. If you pay property taxes separately from your mortgage payment, you may receive assistance through the Save the Dream Ohio - Utility Assistance Plus.

What is an eligible coronavirus pandemic related hardship? A financial hardship due to a material reduction in income or material increase in living expenses associated with the coronavirus pandemic after January 21, 2020.

Save the Dream Ohio: Help for Homeowners Frequently Asked Questions

How do homeowners apply for the program? Ohio homeowners can visit savethedream. or call 888-404-4674 to apply for assistance.

What documentation is needed to apply? Mortgage statement, plus the most recent tax return OR most recent 30 days income for all adult household members.

How will homeowners be notified if their application is approved? Homeowners will receive a text or email to log into their file and view a message; they may log in and view their file 24 hours a day, 7 days a week.

Will homeowners receive a check to pay their mortgage? No, homeowners will not receive a check to pay their mortgage. Once an application is approved, the Ohio Housing Finance Agency will make payments directly to the applicant's mortgage lender/servicer, which will be applied to the homeowner's mortgage account.

Save the Dream Ohio - Utility Assistance Plus

What is Save the Dream Ohio - Utility Assistance Plus? The Save the Dream Ohio ? Utility Assistance Plus provides eligible Ohio homeowners experiencing pandemic related financial hardship up to $10,000 in assistance to prevent utility service disconnection and/or prevent defaults on non-escrowed property taxes or homeowner fees.

Who is eligible for utility assistance? Homeowners with a primary residence in Ohio, have experienced financial hardship related to the COVID-19 pandemic, and have an income at or below the annual eligibility threshold for the household size (see chart below).

Persons in Family

1

2

3

4

5

6

7

8

$103,350 $118,200 $132,900 $147,600 $159,450 $171,300 $183,150 $194,850

What expenses are included in Save the Dream - Utility Assistance Plus? The following expenses are eligible:

Natural Gas Electricity, including renewable resources Bulk fuel, including propane, fuel oil, coal and wood Water Sewer Trash Removal Broadband internet service Property Taxes

What additional housing expenses are included in Save the Dream Ohio ? Utility Assistance Plus? Additional housing expenses that are eligible for payment include:

Save the Dream Ohio: Help for Homeowners Frequently Asked Questions

Homeowners insurance Flood insurance Mortgage insurance Homeowner's association fees or lien Condominium association fees Lot Rent Common Charges

Assistance can include bringing bills current, disconnection and reconnection fees, and up to six months in future payments.

If my property taxes are escrowed, am I still eligible for property tax assistance? Yes, you may qualify for assistance through the Save the Dream Ohio - Mortgage Assistance or through additional programs provided by your local Community Action Agency.

How do homeowners apply for the program? Who do I contact for utility assistance? To apply for Save the Dream Ohio, visit savethedreamohio. or call 888-404-4674 to apply for mortgage assistance.

To apply for Utility Assistance Plus, visit savethedreamohio. to see if the Community Action Agency in your county is a participating partner. You will complete a Utility Assistance Plus application through the Community Action Agency.

What documentation is needed to apply? Most recent tax return OR most recent 30 days income for all adult household members, utility, insurance and/or tax bills.

How will homeowners be notified if their Utility Assistance Plus application is approved? The Community Action Agency will notify the applicant if their application is approved.

Will homeowners receive a check to pay their utilities and other housing costs, such as property taxes? No, homeowners will not receive a check to pay their utilities or other housing costs. The local Community Action Agency will make payments directly to the utility company, county auditor or lender/service provider. Payments will be applied directly to the homeowner's account.

Are Save the Dream Ohio benefits taxable? No, Save the Dream Ohio benefits are not taxable.

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