Foreclosure Mitigation Grants
For questions or more information, please contact
Grants & Projects Analyst 3
On July 30, 2008, in response to the nationwide foreclosure crisis, President Bush signed The Housing and Economic Recovery Act of 2008 which appropriated $180 million to NeighborWorks America for the continuation of the National Foreclosure Mitigation Counseling Program originally authorized by the FY 2008 Consolidated Appropriations Act. Under the legislation, NeighborWorks America will make grants to State Housing Finance agencies who can demonstrate the need for funding to provide mortgage foreclosure mitigation assistance in states with high rates of defaults and foreclosures primarily in the sub prime housing market. State Housing Finance Agencies are allowed to sub grant these funds to local HUD-certified HCA's that can show they have successfully worked with financial institutions and borrowers facing default, delinquency and foreclosure.