HUD awarded more than $42 million in housing counseling grants to hundreds of national, regional and local organizations on Tuesday to help families and individuals with their housing needs and to prevent future foreclosures. HUD’s housing counseling grants and the additional funding they leverage will assist more than 1.4 million households find housing, make more informed housing choices, or keep their current homes.
Among the grantees are national intermediaries and regional and local organizations that assist senior citizens seeking reverse mortgages. According to HUD’s press release, these agencies 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 following national intermediaries were awarded a combined $11.84 million in funding: ClearPoint Financial Solutions, Greenpath, HomeFree, Money Management International, Nationwide Foundation for Credit Counseling, and the Neighborhood Reinvestment Corporation.