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Huntington Bank And Columbus Housing Partnership To Help With The Foreclosure Crisis
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Huntington Bank and Columbus Housing Partnership are coming together to help combat the foreclosure crisis in Central Ohio. WOSU’S Kim Fox reports, Huntington is devoting millions of dollars to the effort.
Huntington will provide the Columbus Housing Partnership with 10-million dollars in fixed rate mortgages. The loans will come with low closing costs and potentially below-market interest rates. Huntington CEO Steve Steinour wants these programs to have an impact. “You know right now you don’t see new lending programs coming out, in any markets around the country. And we’re hoping this in some ways will be very effective of course here, but be a pilot that can be used in other markets”.
It’s expected that up to 100 people could benefit from the fixed rate mortgages.
The organizations will also offer counseling through what they call an online home ownership center. The soon to be developed web-site will assist those who currently face foreclosure or those who just have questions about the process.
Housing Partnership president Amy Klaben is focused on helping those in need, “To help get borrowers on the right track so that they can stay in their homes. That’s the number one priority is to keep people in their homes”.
The program comes as more than 12-thousand Ohioans received foreclosure notices last month.
Kim Fox, WOSU News.