Sen. Brown urges expanded foreclosure aid for Ohio


Sen. Brown urges expanded foreclosure aid for Ohio

Mansfield News Journal – WASHINGTON, D.C. — Sen. Sherrod Brown is urging President Obama to expand his new foreclosure assistance program to Ohio.

The state was excluded from the Obama Administration's $1.5 billion foreclosure relief plan. The president announced last week that Troubled Asset Relief Program money would be used to help five states hit the hardest by foreclosures: Arizona, California, Florida, Michigan and Nevada.

Those states saw delinquency rates higher than 12.5 percent. According to the Mortgage Bankers Association, Ohio's fourth quarter delinquency rate from 2009 was 11.5 percent.

To support his point, Brown pointed to Ohio's record number of foreclosure filings in 2009 and the statistics showing foreclosures have increased steadily for 14 consecutive years.

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