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HUD: $40M available for housing counseling grants

 

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced that it's making $40 million in grants available to support hundreds of housing counseling organizations across the country. The organizations assist families, including first-time buyers, who are struggling to locate affordable rental housing or seeking to avoid foreclosure.

HUD estimates that the housing counseling grants, and the additional funding they leverage, will reach more than 1.5 million households through a network of approximately 300 national, regional and local organizations.

HUD's new funding announcement can be accessed online.

"We know that housing counseling can make all the difference in purchasing and, most importantly, keeping a home," says HUD Secretary Julián Castro. "The grants we offer today will help ensure families and individuals make more informed housing decisions, whether it means buying their first home, avoiding foreclosure, or finding affordable rental housing."

HUD is offering the $40 million to housing counseling services provided by national and regional organizations, multi-state organizations, State Housing Finance Agencies (SHFAs) and more than 200 local housing counseling agencies that assist low- and moderate-income families improve their housing conditions.

Grant winners use the money to help homebuyers evaluate if they are ready to buy a house, understand their financing and down payment options, and navigate what can be an extremely confusing and difficult process. Grantees also help families find affordable rental housing and offer financial literacy training to help struggling families repair credit problems.

To find a HUD-approved housing counseling agency, visit HUD's website or call 1-800-569-4287 for an interactive telephone directory. HUD also has a free housing counseling iPhone app from the app store (not yet available for android).

© 2016 Florida Realtors®

 

Related Topics: Workforce housing