The U.S. Department of Housing and Urban Development (HUD) announces $40 million in grants for housing counseling will be awarded competitively to HUD-approved counseling agencies and State Housing Finance Agencies across the country. Topics include avoiding foreclosure and mortgage scams, improving credit score, purchasing or renting a home, and qualifying for a reverse mortgage. HUD Secretary Shaun Donovan stresses the importance of trying to keep people in their homes. He says, “We fought hard to persuade Congress to restore funding for housing counseling in HUD’s Fiscal Year 2012 budget and I’m pleased that they did so. We will now work to make these important resources available to help families as quickly as possible.” The grants will include $36.05 million for comprehensive counseling and $4 million reverse mortgage counseling. HUD also provides financial literacy education to renters and homeless individuals and families. The application deadline for the approximately 500 grants is January 12, 2012.
(Graphic credit: HUD)