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FOR IMMEDIATE RELEASE
March 9, 2007

Foreclosure Prevention Task Force Is Good News for Older Ohioans
Group Will Help Many Keep Their Homes and Remain Independent

COLUMBUS - Governor Ted Strickland's establishment earlier this month of the Foreclosure Prevention Task Force was good news to older Ohioans and the family members and professionals who care for and serve them. A new state approach to foreclosure, coupled with innovative strategies to help many avoid them altogether, comes at a time when foreclosures continue to have an increasingly negative impact on families and communities.

"There are few things as unsettling and frightening, particularly for senior citizens, as falling behind on a mortgage and possibly losing their home," said Barbara E. Riley, director of the Ohio Department of Aging. "Far too many Ohioans grapple with the difficult decision between keeping their homes and buying the necessary food and medicines to keep them healthy."

For older Ohioans on a limited income, making it month to month can be an economic juggling act, with the mortgage payment losing out to other bills. Even though they often live in homes for many years and the mortgage balance owed is low, a serious illness or other circumstance beyond their control can cause an older homeowner to fall behind on monthly mortgage payments, putting them in danger of losing their home to foreclosure.

"At a time when the state is making strides to empower its residents to receive the care they need in the settings they prefer, the risk of foreclosure limits choices for some. The success and continued growth of home and community-based long-term care programs, such as the Department's popular PASSPORT Medicaid Waiver, depends on doing whatever is necessary to prevent and mitigate foreclosures," said Riley.

Another good reason to prevent foreclosure is to reduce the possibility of fraud and exploitation. Scam artists see home foreclosure as an opportunity to take advantage of older citizens who don't know what options they have. Home mortgage foreclosure rescue scams can involve refinancing, at exorbitant interest or with hidden fees, or offers to buy the property, pay off the mortgage and resell the property to the homeowner, usually at an inflated price or on terms very likely to cause default.

"We are glad that Governor Strickland recognizes the terrible emotional, as well as economic, impact of home foreclosures, particularly for our citizens who can be the most vulnerable," Riley added. "I am confident that working together with the aging network, the task force will help give many older Ohioans added peace of mind."

About ODA

The Ohio Department of Aging serves and represents two million Ohioans age 60 and older. The Department advocates for the needs of all older citizens, with an emphasis on improving the quality of life for older Ohioans, helping them live active, healthy and independent lives, and promoting positive attitudes toward aging and older people. The Department provides services to older Ohioans through 12 area agencies on aging, home- and community-based Medicaid waiver programs such as PASSPORT, the long-term care ombudsman and the Golden Buckeye Card. For more information, visit www.goldenbuckeye.com.