Ohio To Get $98M For Demolition, Foreclosure Prevention
The U.S. Department of the Treasury has announced that Ohio will receive $98 million to demolish blighted structures and prevent people from losing their homes to foreclosure.
Ohio's U.S. senators, Democrat Sherrod Brown and Republican Rob Portman, issued statements Friday after the announcement that said they'd urged the department to include $2 billion nationally for the Hardest Hit Fund. The fund was created in 2010 using money from the Troubled Asset Relief Program to deal with the devastating effects of the foreclosure crisis. Brown's statement says Ohio has received $570 million from the Hardest Hit Fund and that it's helped more than 24,000 Ohioans. The Ohio Housing Finance Agency administers the money and is eligible to apply for an additional $250 million from the fund.