Money will Help Local Organization Disburse Home Loans to Low-Income Sacramentans
WASHINGTON, DC – October 2, 2009 – (RealEstateRama) — Congresswoman Doris O. Matsui (D-CA) announced today that the U.S. Treasury Department has released $1,000,000 to Sacramento Neighborhood Housing Services, Inc. (SNHS). SNHS is a loan fund that provides gap funding and comprehensive home ownership and foreclosure prevention counseling for local low-income individuals and families. Their work has helped countless families achieve the dream of home ownership, and many more stay in their homes despite the recent economic downturn.
“Sacramento Neighborhood Housing Services has served our community since 1986,” said Rep. Matsui. “This grant is reflective of the hard work and dedication to our community SNHS has shown over the last several years, as they continue to promote home ownership in our area. I am pleased to announce this grant will help families in our area most affected during this economic slowdown. With unemployment rates continuing to rise, this funding could not have come at a more crucial time,” added Rep. Matsui.
“These funds will allow us to continue to provide lending and services that will increase homeownership opportunities in Sacramento,” said Pam Canada, CEO of SNHS. “We are proud to be recognized with this grant award and bring these resources into our community.”
The Community Development Financial Institutions Program, a division of the Treasury, selected SNHS as one of 62 certified Community Development Financial Institutions (CDFI’s) to receive a competitive grant. CDFI’s across the nation serve low-income people and communities lacking adequate access to affordable financial products and services. The CDFI Funding was authorized by the Fiscal Year 2009 Financial Services Appropriations bill, which Congresswoman Matsui voted for last year. Congresswoman Matsui also supported SNHS in the application process.
CONTACT: Mara Lee