Western-Star.com

HAMILTON — Butler County leaders are exploring buying houses from banks and selling them to homeowners to help prevent foreclosures.

County Community Development Director Donna Everson outlined the plan to commissioners Monday, Oct. 20.

Homeowners facing foreclosure would deed their home back to the bank, which would then sell it to the county at 5 percent below market value. The county would then help the homeowner get financing to help make the house affordable.

Eligibility requirements include anyone making 120 percent of median income. This is roughly $79,450 a year for a family of four.

The county would fund this with $4.2 million it received from the federal government earlier this month. The money was intended to fix up or demolish foreclosed and abandoned property, so the county is awaiting federal approval for this plan.

"If we can keep people in their homes, that's what we'd like to do," Everson said, and commissioners unanimously agreed.

The plan would apply only to homes outside of Hamilton and Middletown. Everson showed a map that highlighted parts of Fairfield, Trenton and Monroe — as well as much of Madison and St. Clair townships — as problem areas.

Hamilton received $2.4 million under the same federal program and Middletown received $2.1 million.

Hamilton leaders are meeting Nov. 6 to discuss what to do with the money. Middletown is focusing on demolishing blighted homes, Everson said.

The county and cities have until Dec. 1 to declare how they're going to spend the federal money.

Contact this reporter at (513) 820-2175 or jsweigart@coxohio.com.