(Source: MBA) — Yesterday, the Mortgage Bankers Association’s (MBA) Opens Doors Foundation announced it was unveiling a rental assistance grant program to help families with critically ill or injured children maintain their living arrangements in the face of high health care costs. The announcement was made at MBA’s annual Commercial Real Estate Finance and Multifamily Housing (CREF) Convention.“MBA Opens Doors’ original program to provide mortgage payments to families with sick children continues to serve as a model for charitable giving within the real estate finance community,” said Debra Still, Chairman of MBA Opens Doors. “I am proud to lead this laudable effort. However, missing from our first initiative were the millions of Americans who rent instead of own. Now that we have established this important additional component of Opens Doors, we have the opportunity to keep significantly more families in their homes during their time of need. We are committed to sustainable housing for both renters and owners.”
The rental assistance grant program compliments a similar program instituted in 2011 that provides mortgage assistance payments for families with sick or injured children. Eligible families can qualify for a one-time rent payment of up to $2,500.
Every dollar donated to the MBA Opens Doors Foundation goes directly to those in need. Families interesting in applying or those who would like to make a donation should do so online at www.mbaopensdoors.org.
The MBA Opens Doors Foundation was launched in October 2011, with an initial start-up contribution of $50,000 from the Mortgage Bankers Association and with MBA covering all administrative costs of the Foundation. The Foundation’s two initiatives assist families with critically ill or injured children by providing mortgage or rental assistance grants to help them keep their homes in the face of significant medical expenses. Having begun by serving families in the Washington, D.C. area, MBA Opens Doors has established a sound operational framework that will enable the Foundation to expand across the United States. Learn more at www.mbaopensdoors.org.