A week after announcing free legal aid for financially struggling homeowners, Ohio Gov. Ted Strickland this week announced that nine mortgage lenders have agreed to sign a contract that includes six measures that officials said would help bring down the state’s rising foreclosure rate.

Ohio faces a deficit of between $750 million and $1.9 billion, largely due to weaker-than-expected tax collections related in part to the ailing housing market.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.