Wednesday, Dec 12 2012 8:53PM
A new program may provide more resources for struggling homeowners who are facing foreclosure.
The U.S. Department of the Treasury, Department of Housing and Urban Development (HUD) and the Ad Council have united to implement the Foreclosure Prevention Assistance Public Service Advertising (PSA) Campaign. The PSA program aims to educate struggling homeowners on affordable housing assistance and foreclosure mitigation programs.
The Making Home Affordable program, one of the many government programs available to distressed homeowners, has been extended through December 2013, and residents across the country may be eligible for federal assistance.
"Millions of homeowners have gotten help to avoid foreclosure since 2009," said Treasury Undersecretary for Domestic Finance Mary Miller. "We want to make sure struggling homeowners know today that there are free government resources available to help homeowners avoid foreclosure."
The program may help reduce some of the financial strain communities are experiencing in states with a high rural population. A recent MSNBC article noted that funding cuts to nonprofit organizations and federal programs that serve low-income and rural communities have led to halted infrastructure and water projects in Colorado, and extended the waiting list for housing assistance in Utah.
For more information, check out this resource: U.S. Department of the Treasury