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$3,500 grants available to stave off foreclosure

The Federal Home Loan Bank of Cincinnati announced a $400,000 grant on Monday to help Kentuckians in danger of foreclosure stay in their homes.

Homeowners who meet certain income requirements can receive up to $3,500. Those who qualify must apply through Lexington's Community Ventures Corp. and take a credit counseling class.

The program, Preserving the American Dream, will be available to homeowners in 52 Kentucky counties include Fayette and Jefferson.

To apply, call Community Ventures at (859) 231-0054.

The one-time grants, which do not have to be repaid, will be available "virtually immediately," said Gary Throckmorton, a Community Ventures specialist in business development and housing.

Five Kentucky banks will help identify homeowners who need assistance: Republic Bank & Trust of Louisville, Central Bank of Lexington, Farmers Bank & Trust in Georgetown, Kentucky Bank of Paris and Liberty Alliance Federal Credit Union in Lexington.

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