The non-profit organization, American Homeowners Preservation Inc. or AHP Ohio will accept the last batch of applications for its foreclosure relief program in Akron, Ohio on November 24, 2008.
The said organization, which started accepting applications for its foreclosure relief program in September, will hold its one-day final session at Akron’s Hampton Inn, from 10 in the morning to 8 in the evening.
AHP has collected nearly 300 applications from homeowners residing in Summit County who are facing the threat of losing their properties.
The nonprofit organization’s foreclosure relief program targets homeowners in Summit County who are currently behind on their mortgage payment and who owe lenders more than the value of their homes. Under the program, qualified homeowners sell their properties and then lease them back at reasonable monthly payments.
Furthermore, the program provides homeowners who are facing the threat of foreclosure an opportunity to buy back their properties in 3 to 10 years at discounted prices.
Rob Fredericks, executive director of AHP Ohio, said that the overwhelming response to the program by homeowners in Summit County has influenced the nonprofit organization to extend the submission of applications for another day. He added that the AHP program helps homeowners stay in their properties and avoid foreclosure proceedings and prevents disrupting children’s education by allowing them to remain in schools they are familiar with.
Research firm RealtyTrac Inc. said that Akron’s foreclosure rate is the 12th highest in the United States, with one in every 43 households. The overwhelming number of homeowners in Ohio who are defaulting on their mortgage payments has created a crisis in the housing market.
After the November 24 deadline, the nonprofit organization will be offering the foreclosure relief program again in the Summit County region in spring 2009. AHP does not require fees for applying and participating on its program.







