A new study shows that Ohio is one of the states least helped by President Barack Obama’s plan to help borrowers in trouble. It’s a distinction the state can hardly afford. Ohio has long been one of the worst hit states in the country’s foreclosure crisis. ideastream®’s Mhari Saito reports.
According to the US Treasury, just over 14,000 Ohioans are making modified home loan payments under the federal Home Affordable Modification Program, also known as HAMP. That means that these borrowers have gotten the company to whom they pay their mortgage payment to put them in a more affordable mortgage along guidelines written by the federal government.
So, 14,000 Ohioans helped under HAMP. Sounds good, right? But compare that number to the more than 120,000 Ohio homeowners who are at least three months late on their mortgage payments.
