HUD Makes $79M Available In Housing Counseling Grants

Posted by Orb Staff on July 28, 2010 No Comments
Categories : Mortgage Servicing

The U.S. Department of Housing and Urban Development (HUD) is making $79 million available for a range of housing counseling programs to help families find and preserve housing. The available funding is an increase of $21 million, or 27%, over last year.

The grants will be awarded competitively to approximately 550 applicants, including HUD-approved counseling agencies and state housing finance agencies. The counseling services can relate to a variety of topics, including foreclosure avoidance, home buying and helping borrowers understand how to qualify for reverse mortgages.

HUD's Housing Counseling Grant program will provide approximately $55 million this year for ‘comprehensive counseling,’ $9.5 million for reverse mortgage counseling and $14.5 million for supplemental funding for mortgage modification and mortgage scam assistance. There will also be a heightened focus on providing services in languages other than English, HUD says.

SOURCE: U.S. Department of Housing and Urban Development

Register here to receive our Latest Headlines email newsletter




Leave a Comment