Lucas County Commissioners to approve foreclosure assistance program
This in via email from the offices of the Lucas County Commissioners:
COMMISSIONERS TO APPROVE MAJOR FORECLOSURE ASSISTANCE FOR LOW-INCOME FAMILIES
The Board of Lucas County Commissioners will approve major foreclosure assistance for working families, including a payment of up to $5,000 to prevent a foreclosure, at the Commissioners meeting on Tuesday, January 22, 2008 at 2:00 p.m. A news conference will be held at 1:45 p.m. to outline the details of this program on the 8th Floor of One Government Center.
In order to help stem some of the highest foreclosure rates in the country, the Commissioners will ask qualified agencies to provide proposals for up to $400,000 in federal TANF contingency funds.
Contracted agencies will be asked to coordinate with mortgage lenders to minimize the possibility of foreclosure and provide one-time payments to families to help prevent a foreclosure. In return, families who qualify for assistance will be required to attend comprehensive credit counseling and financial literacy courses to ensure their long-term financial health.
For a family to qualify, they must own their home, have a minor child and make less than 300% of the federal poverty guidelines, or less than $57,000 for a family of four.
WHAT: Commissioners To Approve Major Family Foreclosure Assistance
WHEN: Tuesday, January 22, 2008 1:45 p.m.
WHERE: Lucas County Commissioners Office 8th Floor of One Government Center
