Efforts to educate borrowers and promote responsible home ownership are growing, recently with a grant program for housing counselors that will give away 23% more government funds as last year. The US Department of Housing and Urban Development today announced more than $58m in grants for housing counseling agencies and state housing finance agencies that coach consumers on how to purchase or rent homes, avoid foreclosures, improve credit scores and qualify for reverse mortgages. “Now, more than ever, it is crucial that American families make informed decisions about their housing choices,” says HUD Secretary Shaun Donovan in a media statement today. “These counseling agencies are also vital to the success of the President’s Making Home Affordable Plan which is helping families avoid foreclosure and remain in their homes.” HUD’s grant program helps HUD-approved counseling agencies provide home ownership and financial literacy education. The $58m will be distributed to approximately 400 applicants: $47m will be awarded for comprehensive counseling, $8m will fund reverse mortgage counseling, $2m will support loan document review counseling and $1m will go toward fair lending and mortgage fraud analysis and counseling. Write to Diana Golobay.
HUD to Award Housing Counselors $58m
Most Popular Articles
Latest Articles
Spring housing market gets more inventory
We’ve now had back-to-back weeks of healthy housing inventory growth, making spring 2024 much healthier than spring 2023.
-
The best real estate podcasts for agents and brokers in 2024
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program