The US Department of Housing and Urban Development announced that more than $58 million is available for a broad range of housing counseling programs to help families and preserve housing. The funding is an increase of $11 million, up 23% from last year according to a statement from HUD.
“Now, more than ever, it is crucial that American families make informed decisions about their housing choices,” said HUD Secretary Shaun Donovan. “These counseling agencies are also vital to the success of the President’s Making Home Affordable Plan which is helping families avoid foreclosure and remain in their homes.”
Of the $52 million, HUD’s Housing Counseling Grant program will provide approximately $8 million for Reverse Mortgage Counseling. The grants will be awarded competitively to hundreds of HUD approved counseling agencies and State Housing Finance Agencies. HUD will award grants to approximately 400 applicants. Applications may be downloaded from HUD’s website.
Applications must be postmarked on or before July 17th and received by the designated reviewing office within five days.