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Saving the dream in Ohio


Judy Hudson witnessed the housing crash in northeastern Ohio from a unique vantage point: as a realtor and as a struggling homeowner.  With a deflating market, it was “costing more to stay in [business] than it was to stay out.”

j-hudson-png-removed-5After retiring in 2011, Hudson was dealing with the loss of her husband, while struggling to manage a mortgage, a second mortgage on the same property and mounting medical bills. She filed for bankruptcy in 2012. “You plan all your life and think you’ve got enough to handle everything, but it turns out that you don’t,” she said. “It was not a good situation. There were things that I had no control over.”

Hudson contacted her bank for guidance. They saved her over $100 per month with a refinance. They also directed her to Neighborhood Development Services, where her housing counselor helped her complete Save the Dream Ohio’s application for assistance.

Save the Dream Ohio granted her a forgivable loan to pay her second mortgage – worth $15,000 – and is assisting her with her first mortgage payments – $850 – for a year and a half.

“I can’t speak highly enough of the people I’ve been involved with,” she said. “[They’ve] helped me more than I expected." Hudson is now redirecting her resources toward home improvements.

“With that money that I [save] from the reduction of my mortgage payment, I can finish the basement, I will be able to paint the exterior and do the things that I need to keep my home in a way that will benefit my neighborhood and myself.”

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