CalHFA Awarded Nearly $1.3 Million to Provide Counseling for Struggling Homeowners

SACRAMENTO – April 25, 2013 – (RealEstateRama) — The California Housing Finance Agency (CalHFA) today announced that it will receive nearly $1.3 million in additional federal dollars to provide free counseling to homeowners struggling to avoid foreclosure.

This is the seventh federal grant to CalHFA and its long-time partner in this effort, the Rural Community Assistance Corporation. The additional $1.3 million will support statewide efforts to provide counseling services to homeowners struggling to pay their mortgages. In total, the state has received more than $19 million since 2008 and helped more than 76,000 families. This additional grant will help provide counseling for 6,100 families.

“While the housing market is rebounding in many parts of California, many who purchased their homes years ago are still struggling to hold on to those homes,” said Claudia Cappio, Executive Director of CalHFA. “We appreciate the opportunity to continue this critical counseling program, one of several ongoing efforts we are involved with to help struggling homeowners in our state.”

The grant was provided by funds from the National Foreclosure Mitigation Counseling Program. The National Foreclosure Mitigation Counseling Program is administered through a competitive application process by NeighborWorks® America, within guidelines defined by Congressional legislation.

The free counseling will be available to homeowners who have either fallen behind on their mortgages or are in danger of falling behind on their mortgages. Homeowners in those situations can arrange counseling by contacting one of the U.S. Housing and Urban Development-approved counseling agencies in their area.

Contact:
Ken Giebel
Phone: 916.326.8606
Fax: 916.322.2345
kgiebel (at) calhfa.ca (dot) gov
www.calhfa.ca.gov