COLUMBUS, Ohio — Searching for ways to help Ohioans stay in their homes is on tap today at the fifth meeting of Ohio's Foreclosure Prevention Task Force here this afternoon. Options to be explored are loan modifications and work out resolutions available from lenders. Presentations will be made by Ruth Clevenger, VP and Community Affairs Officer for the Federal Reserve Bank of Cleveland and Dean Caldwell-Tautges, VP of Programs and Partnerships, Homeownership Preservation.

Governor Ted Strickland established the task force to provide a unified and coordinated statewide response to the dramatic increase in the number of foreclosures in Ohio. Foreclosures in Ohio increased 23.6% from 2005 to 2006 with more than 79,000 filings in 2006 (Source: Policy Matters Ohio). The number of foreclosures is expected to increase in the next two years as many adjustable rate mortgages with lower “teaser” rates are reset to higher interest rates and higher monthly payments.

The task force includes representatives from local, state and federal governments, housing advocacy organizations, and various associations representing municipalities, counties and lenders. The Governor appointed Kimberly Zurz, Director of the Ohio Department of Commerce and Chair of the Ohio Housing Finance Agency, to serve as Chair of the task force. She is also serving as Chair of the Subcommittee on Responsible Lender Options. – [email protected]