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If you are having trouble making your mortgage payment, The Governor needs to know!
History
First Suburbs Call for Help
In May of 2005, several Mayors from the inner-ring suburbs wrote a letter to the County Commissioners describing the problems that the increasing number of vacant homes in their cities were causing. The letter hinted that the cause was related to the delay that foreclosure attorneys were experiencing in obtaining judgment on a foreclosure case.
After that May, 2005 letter, the Commissioners decided to hold a series of public meetings to determine the scope of the foreclosure problem and examine available solutions. Those meetings resulted in the issuance of a public report on August 25, 2005 (click here for a copy of "The Commissioners' Report and Recommendations on Foreclosures"). After public comment was received, The Commissioners issued a supplemental report in October, 2005 (click here for a copy of "The Supplemental Update of The Commissioners' Report and Recommendation on Foreclosures"). Those reports contained a series of recommendations that were designed to attack the negative effects of the foreclosure explosion. A few of those recommendations included streamlining the foreclosure process at the Common Pleas Court level and the creation of the Foreclosure Prevention Program.
In addition to initiating the Foreclosure Prevention Program, the County Commissioners have also made many changes to the County Court system that are geared toward shortening the time between filing of a foreclosure complaint and sheriff's sale.
Focus on Attacking Root-causes
The three County Commissioners and County Treasurer Jim Rokakis understood from the very beginning that the County needed to create a program that worked toward eliminating the root-causes of the foreclosure epidemic. The Foreclosure Prevention Program is the culmination of a summer-long series of meetings with consumer advocates in Cuyahoga County. Those meetings were aimed at designing a government program that would provide counseling help to the borrowers of this County who were experiencing financial distress, as well as provide comprehensive education for those who were considering home loans or had questions about their credit.
Education is needed as long as the lending industry provides financial incentives for loan officers to steer borrowers into loans that contain higher costs and interest rates than the borrower would otherwise qualify for. In other words, the Foreclosure Prevention Program realizes that the first weapon that the borrowers of this County have against being taken advantage of is the knowledge about what their credit score is and which loan products are designed to throw them into foreclosure.
Public/Private Partnership
The Cuyahoga County Foreclosure Prevention Program is a true public/private partnership. The program is being funded by the County, as well as, several local and national organizations. Click here to see who our partners are.
2-1-1
United Way's 2-1-1 First Call For Help Line is an essential piece of the Foreclosure Prevention Program. Any borrower who has their primary residence is in Cuyahoga County, who wants to stay in their home and who has the means to maintain a payment plan for their loan is eligible to receive counseling and advise through the Foreclosure Prevention Program. These borrowers are asked to call 2-1-1 to be referred to the appropriate counseling agency.
Kickoff
On March 30, 2006, there was a press conference to announce the official start of the Cuyahoga County Foreclosure Prevention Program. Click here for the materials that were distributed at the press conference.
Ad Campaign
The goal of the Don't Borrow Trouble campaign is to prevent predatory lending practices by empowering consumers with the knowledge and tools needed to avoid being victimized by predatory lenders. To achieve this goal, Don't Borrow Trouble has created a wide-spread public education and outreach campaign (via television, radio, newspaper, billboards, interior bus ads, brochures, doorhangers, posters, etc.)
Educational Materials
To order posters or doorhangers for your organization for community distribution, please e-mail trlmd@cuyahogacounty.us or call 211or (216) 443-8182.