Foreclosure Mitigation Counseling a Success in Florida and Nationwide
NeighborWorks® America’s National Foreclosure Mitigation Counseling Program continues to help homeowners facing foreclosure.
TALLAHASSEE, FL – December 2, 2009 – (RealEstateRama) — Florida Housing Finance Corporation (Florida Housing) recently received a report stating the funds from the NeighborWorks® America’s National Foreclosure Mitigation Counseling Program (NFMC) is a success with helping Floridians facing foreclosure in the state.
In the first round of funding (2008), Florida Housing received $1,015,389 of the $4.8 million in total funding Florida received. These funds allowed Florida Housing to help 19 local housing agencies provide foreclosure prevention and intervention services to more than 2,500 homeowners in 2008 and 1,000 more during 2009.
A second round of funding was made available in mid-2008; Florida Housing was awarded $2,294,700 of the $9.5 million Florida received. These funds were used to increase the number of counseling providers from 19 to 26, which resulted in housing counselors serving more than 8,000 families. In addition, Florida Housing and Florida Legal Services received an award of $1.5 million to provide legal assistance to more than 2,700 homeowners at risk of foreclosure.
“Florida Housing, in partnership with housing counseling agencies statewide, is committed to helping as many troubled homeowners as possible keep their homes” said Steve Auger, executive director, Florida Housing. “We are grateful for these resources from NeighborWorks® America and, as detailed in this report, the counseling that this funding supports is working.”
NFMC Program continues to help homeowners facing foreclosure by providing them with much needed loss mitigation counseling. Nationwide, the program has provided 762,284 struggling homeowners with foreclosure prevention counseling.
NeighborWorks® America released its report to Congress on the program’s activity, which covers counseling activity reported by program grantees and counselor trainings provided by
NeighborWorks® between March 1, 2008 and August 18, 2009.
Highlights of the report include:
• 633,294 homeowners nationally received counseling during the reporting period;
• 5,237 scholarships provided to foreclosure counselors;
• Descriptive statistics about clients served through the program;
• Successful counseling strategies, including the importance of early intervention; and
• The challenges counselors face in the current economic environment.
To date, Congress has set aside $356 million for the foreclosure prevention counseling program, and is considering an additional $60 million for the next fiscal year.
The report can be accessed at www.nw.org/nfmc
Cecka Rose Green (850) 488-4197
