Housing Counseling Agencies Receive HUD Grants

Posted by Orb Staff on December 27, 2010 No Comments
Categories : Residential Mortgage

The U.S. Department of Housing and Urban Development (HUD) has granted nearly $73 million in housing counseling grants to more than 500 national, regional and local organizations. The grants represent a $13 million, or 22%, increase over last year's funding level.

In announcing the grant awards last week, HUD Secretary Shaun Donovan called HUD-approved housing counseling agencies are a critical part of the nation's housing recovery.

‘These organizations are on the front lines of helping families who are desperate to remain in their homes,’ said Donovan. ‘Now, more than ever, it's crucial that we support these agencies that are working with struggling families on a one-to-one basis to manage their money, navigate the home buying process and secure their financial futures.’

Nearly $68 million of the grant money will support the direct provision of housing counseling services by 24 national and regional organizations, five multistate organizations, and 484 state and local housing counseling agencies. In addition, HUD is awarding more than $5 million to three national organizations to train approximately 4,500 counselors. Counseling agencies will use $9.5 million to help assist senior citizens seeking reverse mortgages or Home Equity Conversion Mortgages.

For a list of all grants, organized by state, click here.

SOURCE: HUD

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