In the last ten years, the number of foreclosure filings in Hamilton County has skyrocketed (up more than 200%). Almost half of the County’s foreclosures are occurring outside Cincinnati. In addition to the individual impact on families, an individual foreclosure costs the surrounding community tens of thousands of dollars in property value. That's why Commissioners are supporting the Homeowner Preservation Initiative.

10 Month Results: In just the first ten months of the Homeowner Preservation Partnership (through October 2007), the counseling agencies have reported very positive results.*

• From 1/1/07 through 10/30/07, the Hamilton County Homeowner Preservation Initiative has saved over 400 homes from foreclosure, well ahead of the goal of saving 300 homes in 2007.

• With the estimated community cost of a foreclosure being as much as $60,000, the small investment in counseling has preserved up to $24 million in property value.

• The need is considerable. Counselors are currently scheduling appointments an average of 21 days out. They have received thousands of requests for service.

• In 2006, the City’s emergency mortgage assistance saved 22 homeowners who had an average family size of 4, resided in their homes for an average of 6 years, and had an average home value of $86,736. A 1-year follow up found that all but one of these homeowners remained stabilized in their homes.