Thursday, Mar 22 2012 3:57PM
NeighborWorks America is allocating millions of dollars to help homeowners prevent foreclosure.
NeighborWorks America has made more than $73 million available to more than 100 state housing agencies, affordable housing organizations and
housing counseling intermediaries to help homeowners nationwide prevent foreclosure.
The latest round of funding from the organization has been made available through its National Foreclosure Mitigation Counseling (NFMC) Program. More than 1,300 nonprofit organizations are expected to help the parties receiving the funds with foreclosure counseling.
According to NeighborWorks America, roughly 1.35 million families in the U.S. have received some form of assistance through the NFMC Program. Approximately 190,000 families will receive aid with the most recent round of funding.
While NeighborWorks America's program should continue helping many residents avoid foreclosure, millions of Americans have been already been forced out of their homes due to foreclosure.
However, with more than 1 million real foreclosed housing units projected to enter the market as rental properties, many of these residents may find
affordable housing assistance.
For further information, check out this source:
NeighborWorks America