News Bites

2022 Development Areas

At this time, the Land Trust is planning development areas in Franklinton, Milo-Grogan, Weinland Park, Linden, Clinton Twp., Mifflin Twp., and Prairie Twp. Interested family and friends should visit our website to register for an orientation class.

Spring Cleanup

A Spring Cleanup is being planned for 2022. The area is TBD and will be based on participating homeowners' locations. Email and let us know if you are interested!

Save the Dream Ohio: Help for Homeowners

This federally funded program will include assistance for utilities, property taxes, homeowner association fees, and mortgage payment assistance. Once Ohio’s pilot program is approved by the U.S. Department of Treasury, homeowners will be eligible to receive assistance if they experienced a financial hardship after January 21, 2020 and have household incomes equal to or less than 150% of the area median income.

More Info

WHY SHOULDN'T YOU BORROW MONEY FROM A LEPRECHAUN? (see answer below)

LAND LEASE REFRESHER ~ Article 8

Financing

If you have given any thought to refinancing your mortgage or taking out a second mortgage, below are a few things you need to know:

The Land Trust must give specific permission for any loan secured by a mortgage on the home or a homeowner's interest in the leased land.
When refinancing the primary mortgage, it must be replaced with a leasehold interest loan.
Second mortgages (home equity and home equity lines of credit) must follow the same COCLT permission process as a refinanced primary mortgage loan.
The Land Trust will not permit a mortgage loan that increases the total mortgage debt to an amount greater than 80% of the current Purchase Option Price.

Prior to contacting a lender, get in touch with Norman Deena, Program Coordinator/Homebuyer Advocate, to discuss the process. Read Section 8 in its entirety here.

Answer: Because they are always a little short.

Homeowner Tips

It's Time to Spring Forward

As March 13th approaches, the debate over Daylight Savings Time continues. Whether you love it or hate it, you could use the day as a reminder for some home care. It is a good time to replace batteries in smoke and carbon monoxide detectors, check air filters, clean out your fridge, wash your pillows, and turn or flip your mattress. As if you were not tired enough from losing an hour of sleep...

Ohio Attorney General

www.OhioProtects.org

800.282.0515

Beware of Contractor Scams

Contractor scams are being reported far and wide. Consumers can protect themselves by researching the company to ensure it is registered and active (Ohio Secretary of State and BBB), insisting on a written contract, avoiding cash, paying in installments, and obtaining a receipt. Homeowners can search for licensed contractors when a project requires a permit on the City of Columbus website. Did you know Ohio’s Home Solicitation Sales Act provides consumers with a three-day cancellation period for most contracts signed at their own home? And if a contractor claims to have leftover materials from a nearby job or offers unbelievably low prices, you may want to proceed with caution.

Call Before You Dig...It's the Law

If you are planning any outdoor improvement projects or yard work, it is best to call 8-1-1 (Ohio’s one-call notification system) at least 48 hours ahead of time so you know where it is safe to dig. One call coordinates local utilities and oil and gas production facilities so underground lines can be marked. Not only can doing so avoid headaches and make your job easier, but you could avoid potential utility outages, repair costs, and serious - or even fatal - injuries. More info can be found HERE .