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Published: Tuesday, 9/16/2008

Grants awarded to avert local foreclosures

The Federal Home Loan Bank of Cincinnati has awarded $400,000 in grants to help avert foreclosures in Lucas County and 11 surrounding counties. Statewide, $1.3 million has been made available.

Grants of up to $3,500 a household are available for counseling, to help homeowners make overdue mortgage payments, and to cover re-financing costs, the bank said yesterday.

Banks and non-profit organizations led by National City Bank will oversee distribution of $200,000 in Lucas County, while Genoa Banking Co. will be leader for another $200,000 grant for surrounding counties.

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