Ohio Governors Foreclosure Task Report Issues Final Report

September 12, 2007

The Governor of Ohio's Foreclosure Task Force issued its final report, Monday, September 10, 2007. The final report of the Foreclosure Prevention Task Force was adopted by a vote of 22-1 with one abstention and one absence. Included in the final report were twenty-seven discrete recommendations that comprised an overall a seven-point plan:

  1. Encourage Borrowers to Get Help Early.
  2. Expand Housing Counseling and Intervention Services.
  3. Work with Lenders and Servicers to Maximize Alternatives to Foreclosure.
  4. Provide Options for Homeowners to Refinance or Restructure Their Mortgages.
  5. Improve Ohio's Foreclosure Process.
  6. Strengthen Protections for Homeowners.
  7. Help Communities Recover from the Aftermath of Foreclosures.
Kimberly Zurz, Chairwoman of the Task Force and Director of the State of Ohio's Department of Commerce said her top priority will be to move loan servicers toward "out of the box" changes in threatened mortgage policies.

Please select the Related Document to view Foreclosure Task Report.