Energizing Foreclosure Mitigation Counseling
CalHFA is pleased to announce that it has just been awarded over $3.4 million through NeighborWorks® America to provide counseling to families and individuals facing the threat of foreclosure. This is in addition to previous CalHFA awards totaling $12.6 million, which have already provided nearly 50,000 counseling sessions for Californians who are struggling with their mortgage payments.
At a time when foreclosures continue to rise and unemployment figures reach near record levels, CalHFA recognizes the critical, ongoing need for this type of funding. The Agency will work with its long-time partner, RCAC, the Rural Community Assistance Corporation, to provide this vital counseling through dozens of nonprofit, HUD-approved counseling agencies.
Acting Executive Director of CalHFA, Steve Spears, is very appreciative of the scope of CalHFA's award. "Our allocation of $3,446,188 is the largest amount awarded to any of the 35 state housing finance agency recipients. We will put these funds to immediate use to assist Californians in need."
For more information, see the NeighborWorks America press release here:
http://www.nw.org/network/newsroom/pressReleases/2010/netNews041610.asp
