For many Cincinnati residents, foreclosure is a reality. Due to many factors affecting the economy as well as deceptive lending practices by some banks, uninformed customers have applied for and were granted loans that they simply can’t afford. Ohio Governor Ted Strickland has launched a program to try to assist people who are facing potential foreclosure. The program is called “Save the Dream“.
One of the things that many people do not realize is that when you are having financial problems the best thing to do is to inform your lender so that you can workout a resolution. Most people are inclined to hide the fact that they are struggling financially because they feel helpless and that they have no options and their fate is sealed; they will certainly lose their home. “Save the Dream” is an educational tool that provides information for homeowners. Some of the information provided is: Foreclosure Resources, Alternatives to Foreclosure, Steps in the Foreclosure Process, Foreclosure Terminology, Rescue Scams to watch out for, and Predatory Lending Practices to beware of, and how to rebuild your credit. Please also click here for more information on credit scores.