Ohio received significant resources to combat the housing crisis, mortgage fraud, and help families affected. The National Mortgage Settlement is the largest consumer financial protection settlement in U.S. history, and Ohio was allocated nearly $100 million to prevent foreclosures and ease the effects
of the foreclosure crisis.
DeWine set aside $18 million for a grant program to “assist families and individuals who are at risk of foreclosure or have already lost their home.” Only a small part of that $18 million was spent for that purpose.
Instead, DeWine diverted $7 million of it to an advisory group on safety. He diverted another $3 million to his Foster Care Task Force, and the Ohio Boys & Girls Club Alliance received a $4.35 million grant to build new clubhouses.
Earlier this year, Ohio’s foreclosure rate ranked among the three highest in the nation for the first time since November 2007. In July 2013, Ohio had the fourth highest foreclosure rate nationally. By September 2013, Ohio also ranked first in the country in mortgage fraud.
Via David Pepper.