Bush administration announces $39.1M in housing counseling grants

WASHINGTON -- Sept. 26, 2006 -- The Department of Housing and Urban Development (HUD) will spend $39.1 million in homeownership counseling, awarding grants to17 national organizations and more than 400 state and local agencies, including 21 in Florida.

The grants will assist families in becoming first-time homeowners or help homeowners remain in their home. Renters and homeless individuals and families will also benefit.

Of the more than $39 million in housing counseling grants, $3 million is being awarded in supplemental funding for Home Equity Conversion Mortgage (HECM) counseling. These funds will provide counseling for the rapidly growing number of elderly homeowners who seek to convert equity in their homes into income that can be used to pay for home improvements, medical costs and other living expenses.

The organizations that provide housing counseling services help people become or remain homeowners or find rental housing. They also help combat predatory lending by helping unwary borrowers avoid unreasonably high interest rates, inflated appraisals, unaffordable repayment terms, and other conditions that can result in a loss of equity, increased debt, default and even foreclosure. In addition, HUD-funded housing counseling agencies assist homeless persons to find the transitional housing they need to move toward a permanent place to live.

HUD awards annual grants under the housing counseling program through a competitive process. Organizations that apply for grants must be HUD-approved and are subject to biennial performance reviews to maintain their HUD-approved status.

Florida agencies receiving grants and offering homebuyer counseling include:

Apopka: Homes in Partnership Inc. -- $27,210
Bradenton: Manatee Coalition for Affordable Housing Inc. $22,403
Bradenton: Manatee Opportunity Coalition -- $28,412
Clearwater: Tampa Bay Community Development Corporation -- $36,849
Daytona Beach: Central Florida Community Development Corp. -- $26,008
Daytona Beach: Mid-Florida Housing Partnership Inc. -- $24,807
Deerfield Beach: Deerfield Beach Housing Authority Inc. -- $21,202
Jacksonville: Jacksonville Area Legal Aid -- $47,181
Largo: Lighthouse Credit Foundation -- $23,605
Melbourne: Community Housing Initiative -- $27,728
Miami Beach: Miami Beach Community Development Corporation -- $32,016
Ocala: Ocala Housing Authority -- $32,016
Pensacola: Community Enterprise Investments, Inc. -- $25,000
Pensacola: Consumer Credit Counseling Services of West Florida Inc. -- $44,161
Riviera Beach: Housing Partnership Inc. -- $35,646
Rockledge: Family Counseling Center of Brevard Inc. -- $35,285
Sarasota: Goodwill Industries-Manasota Inc. -- $35,646
Sanford: The Center for Affordable Housing Inc. -- $35,646
Sanford: Goldenrule Housing and Community Development -- $26,008
Tallahassee: Tallahassee Lenders Consortium Inc. -- $38,053
Tampa: Center for Affordable Homeownership -- $23,605
West Palm Beach: Credit Card Management Services Inc. -- $20,000

© 2006 FLORIDA ASSOCIATION OF REALTORS®

Questions, comments or suggestions on this article? Have a news tip? Send a letter to the editor to: Newseditor@floridarealtors.org.