Published:
Nonprofit Group Helping Prevent Foreclosures Accepting Final Applications in Akron Region
AKRON, Ohio, Nov. 20 /PRNewswire/ -- American Homeowner Preservation Inc.
("AHP Ohio"), a nonprofit organization providing an alternative to foreclosure
for distressed homeowners, is hosting its final session inAkron on Monday
November 24th from 10:00 AM to 8:00 PM at the Hampton Inn - Akron South at
3235 South Arlington Road.
Since September, the organization has collected almost 300 applications
from residents in theSummit County region who are in jeopardy of losing their
homes. November 24th is the final day AHP Ohio will be accepting
applications. The organization will not be offering the program inSummit
County again until spring 2009.
AHP Ohio's program allows qualified homeowners who are behind on payments
and who owe more than their home is worth a means of selling their homes and
then leasing them back at affordable monthly payments. The program also
offers participants the opportunity to repurchase their homes in three to ten
years at an amount significantly less than the existing mortgage.
"We have had such overwhelming response inSummit County, that we added an
extra day for area residents to apply for the program," said AHP Ohio
Executive Director, Rob Fredericks.
"Clearly, there is a major need. Our solution allows families stay in
their homes and avoid painful foreclosure proceedings, their children remain
in familiar schools, and neighborhoods avoid the blight of additional
foreclosed properties," he said.
The staggering number ofOhio homeowners defaulting on their mortgages has
created an unprecedented housing crisis. According to RealtyTrac, Inc.,Akron
has the 12th highest foreclosure rate in the nation, with one in 43 households
in foreclosure.
Tax-exempt bonds issued by Summit County Port Authority will be
underwritten by Gardnyr Michal Capital, Inc.
There are no fees or costs to apply and participate.
To learn more, residents can also call the AHP Ohio'sAkron location at
330.470.4200 or visit web site at www.ahpoh.org.
SOURCE American Homeowner Preservation Inc.
Copyright © 2009, PRNewswire
Copyright © 2009, NewsBlaze,
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