HW Media connects and informs decision makers across the housing economy. Professionals rely on HW Media for breaking news, reporting, and industry data and rankings. Moving the Housing Market Forward.
CounselingNewsReverse Mortgage

Housing Authority Shuts Down Counseling Program, Cites Funding

Housing counseling services will no longer be available to homeowners living in Fort Wayne, Indiana, reports the Journal Gazette

The Fort Wayne Housing Authority has cited funding reductions as the primary reason it will not be providing counseling to its area residents. 

For more that 20 years, the authority has provided housing-related services related to reverse mortgages, mortgage default, pre-purchase, and rental delinquency.

Now, those services are being consolidate with those of partner agencies in order to reduce costs, writes the Gazette.

Earlier this month, the Obama Administration’s FY 2014 budget appropriated $55 million in funding for HUD programs including mortgage counseling.

Although the figure is more than what was allotted for the prior year, the future remains uncertain for counseling agencies nationwide.

The Journal Gazette urges clients of the Foreclosure Prevention Network, Hardest Hit Fund program and the Department of Housing and Urban Development (HUD) to visit the website of the Fort Wayne Housing Authority to seek out counseling services.

Read the Journal Gazette article.

Written by Jason Oliva