Home Loans and Support

Homeownership Preservation Foundation Receives Another $3M in HUD Funding to Support Foreclosure Counseling

(Source: HPF) – The Homeownership Preservation Foundation (HPF), an independent national nonprofit dedicated to helping distressed homeowners navigate financial challenges and avoid mortgage foreclosure through its HOPE™ Hotline at 888-995-HOPE™, announced today that it has received a $3 million grant from the U.S. Department of Housing and Urban Development (HUD) to further fund its housing counseling services.

HPF will use these grant monies to continue offering housing counseling free of charge to the thousands of distressed homeowners who call HPF’s HOPE Hotline each day, enabling them to receive information and guidance from professionally trained, HUD-certified housing counselors. HUD studies released last year found that homeowners who completed sessions with HUD-approved housing counselors like those available via HPF greatly increased their likelihood of being able to remain in their homes.

HPF was awarded the highest grant out of the $40 million allocated to 334 HUD-approved housing counseling agencies. This represents a nearly three-fold increase from the HUD grant HPF received last year, signaling an understanding and appreciation of the value of HPF’s housing counseling. In the press release announcing the awards, HUD Secretary Shaun Donovan noted that the increased evidence of the efficacy of housing counseling makes these grants a smart investment in helping to promote sustainable housing options for all consumers.

“We are very grateful for this continued financial support from HUD, as well as the further acknowledgement that housing counseling is of increased importance as the housing crisis persists,” said Colleen Hernandez, CEO of HPF. “These grants ensure that homeowners will continue to have access to the expert guidance needed to fully understand their financial obligations and make better informed decisions when it comes to their housing situation. In addition, HUD’s continued support demonstrates the organization’s belief that housing counseling is an important vehicle through which sustainable homeownership is achieved.”

 

About the Homeownership Preservation Foundation

HPF – the Homeownership Preservation Foundation – is an independent national nonprofit dedicated to guiding consumers along the path to financial health and sustainable homeownership. The organization has been at the forefront of helping distressed homeowners navigate their mortgage challenges and avoid foreclosure, and is recognized for developing innovative solutions to preserve and expand homeownership. Through its HOPE™ Hotline, 888-995-HOPE™, HPF provides comprehensive financial education and confidential holistic counseling for FREE, 24 hours a day, 7 days a week, 365 days a year, in over 170 languages. Since 2007, HPF has served nearly seven million distressed consumers, an average of 4,500 each weekday, who depend upon HPF as a trusted, neutral source of information and assistance. For more information about HPF or the HOPE™ Hotline, please visit www.995hope.org.

Source: HPF

 


About Alex Ferreras

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