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CalHFA Awarded Nearly $1.3 Million to Provide Counseling for Struggling Homeowners
April 24, 2013
SACRAMENTO, Calif., Apr 24, 2013 (BUSINESS WIRE) --
The California
Housing Finance Agency (CalHFA) today announced that it will receive
nearly $1.3 million in additional federal dollars to provide free
counseling to homeowners struggling to avoid foreclosure.
This is the seventh federal grant to CalHFA and its long-time partner in
this effort, the Rural Community Assistance Corporation. The additional
$1.3 million will support statewide efforts to provide counseling
services to homeowners struggling to pay their mortgages. In total, the
state has received more than $19 million since 2008 and helped more than
76,000 families. This additional grant will help provide counseling for
6,100 families.
"While the housing market is rebounding in many parts of California,
many who purchased their homes years ago are still struggling to hold on
to those homes," said Claudia Cappio, Executive Director of CalHFA. "We
appreciate the opportunity to continue this critical counseling program,
one of several ongoing efforts we are involved with to help struggling
homeowners in our state."
The grant was provided by funds from the National Foreclosure Mitigation
Counseling Program. The National Foreclosure Mitigation Counseling
Program is administered through a competitive application process by
NeighborWorks(R) America, within guidelines defined by Congressional
legislation.
The free counseling will be available to homeowners who have either
fallen behind on their mortgages or are in danger of falling behind on
their mortgages. Homeowners in those situations can arrange counseling
by contacting one of the U.S. Housing and Urban Development-approved counseling
agencies in their area.
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