1. Save the Dream Ohio Update on Ohio’s Foreclosure Prevention Effort

2. Save the Dream Ohio Programs Rescue Payment Assistance Mortgage Payment Assistance Mortgage Modification with Contribution Assistance Lien Elimination Assistance Transition Assistance Homeownership Retention Assistance Homeowner Stabilization Assistance

3. Hardship Requirements Hardship due to involuntary unemployment or 10% loss or reduction in income; Homeowner must meet minimum eligibility requirements regarding bankruptcy, occupancy, income, home type, and first mortgage debt Significant medical expenses of 7.5% of gross annual income for all unreimbursed expenses accrued prior to 2012 and 10% of gross annual income for all unreimbursed expense accrued after 2012 (excluded from Mortgage Payment Assistance) and; Relocation for employment that meets the requirements of IRS Publication 521 which states “the new main job is at least 50 miles farther from former residence than old main job (included in Transition Assistance only). The hardship must have occurred on or after January 1, 2007.

4. Amount of Assistance Homeowners may participate in two or more programs and are subject to the maximum assistance amount of $35,000 per household; The maximum assistance per program ranges from $7,500 for Transition Assistance to $35,000 for Mortgage Modification with Contribution Assistance Assistance is in the form of a zero interest forgivable second mortgage All payments are made to mortgage servicers, except for Transition Assistance More than 400 servicers are participating in Save the Dream Ohio

5. Assistance Provided 6/30/13

6. Status of Funding 9/30/13 Ohio Hardest Hit Funds estimate Ohio Allocation$570,400,000 Administration$70,415,000 Program Funds$499,985,000 Disbursed by 9/30/13$177,012,000 Reserved/Committed$95,354,000 Neighborhood Initiative$60,000,000 Funds available - Assistance$167,619,000

7. Need for Demolition Demolition of vacant housing will prevent foreclosure by stabilizing home values in at risk neighborhoods Moving Ohio Forward provides $75 million, plus local match, for demolition of vacant housing statewide Ohio urban areas need additional resources to address vacant housing after Moving Ohio Forward Other resources such as CDBG are shrinking

8. Hardest Hit Fund Limitations OHFA’s initial proposal to Treasury to use HHF to extend Moving Ohio Forward was not approved Treasury approved a different structure for Michigan Ohio’s current approval based on two key elements:  Prevent Foreclosure  Modify a Loan

9. Proposed Demolition Program HHF Allocation$60 million Eligible ApplicantsLand Banks (ORC 1724) or designated entity Eligible Properties1 to 4 unit vacant and blighted residential properties, controlled by Land Bank Strategic Plan Target Areas Source of Properties Maintenance and/or Redevelopment LoanNon-federal source DemolitionCompleted by local entity HHF Funding Demolition Administration Greening Maintenance Maximum $25,000 per property Up to maximum for hard and soft costs, lien payoff Up to $1,000 Up to $1,500 Up to $400 HHF Lien0% lien to Ohio Homeowner Assistance LLC, expires December 31, 2017

11. Process Flow note Land Bank HHF note Land Bank $ $ $ lien Demolition Occurs Submit to OHFA HHF Funds disbursed by OHA upon OHFA approval Tax Foreclosure Deed in Lieu Donation Acquisition Local Government Agreement HHF Loan takes out existing Loan and reimburses demolition costs plus fees 0% lien expires 12/31/17 Non-Federal Loan $

12. Proposed/Optimistic Timeline November 24Request for Proposals Issued December 20First Round Proposals Due January 24, 2014First Round Awards February 28, 2014 First Round Contracts Executed April 4, 2014 Second Round Proposals Due May 2, 2014 Second Round Awards June 6, 2014 Second Round Contracts Executed March 31, 2016All Contracts Expire