DELAURO ANNOUNCES GRANTS FOR HOME FORECLOSURE COUNSELING
March 20, 2012
New Haven, CT – Congresswoman Rosa L. DeLauro (CT-3) announced two federal grants to help Connecticut families during the housing crisis. Announced by NeighborWorks America, the Connecticut Housing Finance Authority will receive $158,686 and the Neighborhood Housing Services of New Haven will receive $110,160 to offer counseling and legal assistance to families facing the threat of foreclosure. A recent report by the Urban Institute showed that struggling homeowners who received counseling were twice as likely to obtain a mortgage modification and at least 67 percent more likely to remain current on their mortgage. Earlier this year, DeLauro introduced the Regulation of Mortgage Servicing Act, which will establish clear, national standards for mortgage lenders and help struggling homeowners navigate through alternatives to foreclosures and avoid foreclosure.
"Each week, I hear from struggling families at risk of losing their home to foreclosure. Counseling is one of our most successful tools for helping families avoid foreclosure. This funding will help the Connecticut Housing Finance Authority and the Neighborhood Housing Services of New Haven continue to offer counseling and legal assistance to struggling homeowners," said Congresswoman DeLauro. "Homeownership is the American dream, and we must do all we can to keep that dream alive for the millions of American families struggling in this difficult economy."
These grants were provided through the National Foreclosure Mitigation Counseling (NFMC) Program, which Congress provided $80 million for in 2012 for housing counseling and legal services for distressed borrowers. More information about the grants is available on NeighborWorks America's website: https://www.nw.org/nfmc.
"Each week, I hear from struggling families at risk of losing their home to foreclosure. Counseling is one of our most successful tools for helping families avoid foreclosure. This funding will help the Connecticut Housing Finance Authority and the Neighborhood Housing Services of New Haven continue to offer counseling and legal assistance to struggling homeowners," said Congresswoman DeLauro. "Homeownership is the American dream, and we must do all we can to keep that dream alive for the millions of American families struggling in this difficult economy."
These grants were provided through the National Foreclosure Mitigation Counseling (NFMC) Program, which Congress provided $80 million for in 2012 for housing counseling and legal services for distressed borrowers. More information about the grants is available on NeighborWorks America's website: https://www.nw.org/nfmc.