Friday, Nov 11 2011 1:53PM

The Homeownership Preservation Foundation (HPF), a national nonprofit organization, released a statement in response to the ongoing debate among federal government officials and lawmakers concerning housing counseling.

In the past, the government supported housing counseling agencies and efforts through the U.S. Department of Housing and Urban Development (HUD), but $88 million in funds were stripped from the agency earlier this year. Housing counseling programs have depended on that support in the past in order to offer free assistance to homeowners who cannot afford to pay, or who might be subjected to financial hardship by the expense.

"As we begin to enter the second phase of the housing crisis - one where many expect to see a steep uptick in foreclosure activity - it is imperative that distressed homeowners continue to have access to trusted HUD-certified counselors, like those at HPF, who can provide them with reliable, accurate information and guidance to help them find the best way out of their personal financial quagmires," said HPF president and CEO Colleen Hernandez.

She noted that many agencies, which have had significant local impacts, may be forced to close if funding is not restored. HUD has certified more than 2,700 housing counseling agencies around the nation, which offer housing and related financial counseling to those in need. HPF and several hundred other agencies, including RCAC, have written to Congress requesting funding be restored, but action has not yet been taken.

RCAC is a HUD-approved national intermediary. As such, RCAC provides technical assistance, training and financial support to a network of housing counseling agencies serving rural communities throughout RCAC's service area. RCAC's Housing Counseling program builds the capacity of established and emerging housing counseling agencies, including tribal-based organizations.

For further reference, check out this source: Homeownership Preservation Foundation