Wednesday, October 7, 2009

Consumer Credit Counseling Service of Greater Atlanta Receives $3.5 Million Grant to Support Foreclosure Prevention Counseling Efforts

/PRNewswire/ -- Consumer Credit Counseling Service (CCCS) of Greater Atlanta today announced that it has received a $3.5 million grant to support its national foreclosure prevention counseling efforts in several metropolitan areas. The much-needed boost will enable CCCS of Greater Atlanta to provide more foreclosure counseling than ever before to homeowners in danger of foreclosure.

"This grant will enable us to help homeowners in metropolitan areas that have been hit hardest by the nation's foreclosure crisis," said Suzanne Boas, president of CCCS of Greater Atlanta. "At no cost to the homeowner, counseling provides people with information and resources to help them avoid foreclosure. This is most effective when they reach out for help shortly after they become delinquent on their mortgage payments. We hope people concerned about foreclosure will call us for assistance at 800-251-2227."

Funds from this grant will enable CCCS of Greater Atlanta to conduct 18,400 foreclosure prevention counseling sessions. Based on the agency's historic client distribution, the 10 largest Metropolitan Statistical Areas (MSAs) that will benefit most from the grant are: Atlanta, Miami/Fort Lauderdale, New York/Northern New Jersey, Los Angeles, Washington, D.C., Orlando, Chicago, Tampa/St. Petersburg, Riverside/San Bernardino, Calif., and Phoenix.

The grant to support CCCS of Greater Atlanta's foreclosure intervention efforts was provided by funds from the National Foreclosure Mitigation Counseling Program. The initial funding was provided by Congress in the fiscal 2008 Consolidated Appropriations Act. Additional funding was provided through the Housing and Economic Recovery Act of 2008 and the Omnibus Appropriations Act of 2009.

The National Foreclosure Mitigation Counseling Program is administered through a competitive application process by NeighborWorks® America, within guidelines defined by Congressional legislation. NeighborWorks America is an independent, Congressionally-chartered non-profit organization based in Washington, D.C., with a mission to provide access to sustainable homeownership and safe, affordable rental housing.

The $3.5 million grant is the highest amount awarded to any single organization by NeighborWorks America. Four other nonprofit housing organizations also received $3.5 million.

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1 comment:

Tony said...

Wow... 3.5 million is an awesome budget. For sure this is a great incentive to help the situation in the place.