Washington, D.C.-based NeighborWorks America, one of the nation's largest community development corporations, announced that more than 1.8 million homeowners have received foreclosure prevention counseling through the association's National Foreclosure Mitigation Counseling Program (NFMC).
Read More »$63.1 Million Awarded to Stave Off Foreclosures
NeighborWorks America announced Tuesday in a press release that $63.1 million had been awarded to 29 state housing finance agencies, 18 HUD-approved housing counseling intermediaries, and 67 community-based NeighborWorks organizations. The money, provided through the National Foreclosure Mitigation Counseling (NFMC) program, is earmarked for counseling to families and individuals facing the threat of foreclosure.
Read More »NFMC Clients Nearly Twice as Likely to Receive Mod, 1.3M Counseled
Through National Foreclosure Mitigation Counseling (NFMC), more than 1.3 million homeowners have received foreclosure prevention counseling by local nonprofits and state housing finance agencies since March 2008, NeighborWorks America announced Monday. So far, the NFMC has also received six appropriations from Congress totaling $619.87 million. According to a report, NFMC clients who had their payments modified saved an average of $176 more per month, and those who received help were nearly twice as likely to obtain a modification.
Read More »NeighborWorks Sends $67M to Agencies for Foreclosure Counseling
NeighborWorks America announced this week that $67.7 million has been awarded to 37 state housing finance agencies, 17 HUD-approved housing counseling intermediaries, and 84 community-based organizations to provide counseling to homeowners facing foreclosure. Demand for this latest round of grant money exceeded the amount of funding available, with more than $212.7 million requested from eligible applicants. NeighborWorks estimates the money will support assistance for nearly 184,000 families facing foreclosure.
Read More »Ohio Agency to Turn Away Distressed Homeowners Due to Budget Cuts
According to Empowering and Strengthening Ohio's People, a non-profit foreclosure prevention counseling agency, the Ohio Housing Finance Agency's failure to distribute funding - in addition to federal budget cuts - means turning away some homeowners. Starting Tuesday, the agency says it will be forced to stop taking in homeowners referred from the National Foreclosure Mitigation Counseling program.
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