News Release

HUD SECRETARY APPLAUDS NEIGHBORWORKS AMERICAFOR AWARDING $130 MILLION FOR FORECLOSURE PREVENTION COUNSELING

WASHINGTON - U.S. Housing and Urban Development Secretary Alphonso Jackson today issued the following statement applauded NeighborWorks America for expeditiously awarding $130 million to HUD-approved national counseling intermediaries and state housing finance agencies that will provide thousands of families with foreclosure prevention counseling.

"I applaud Ken Wade and NeighborWorks America for moving quickly to award this vital funding and help homeowners at risk of foreclosure.  For families caught in the foreclosure trap, this targeted investment is one more resource to help them keep their homes and bring stability to their communities.  

Providing foreclosure prevention counseling contributes significantly to securing the American Dream.  President Bush has maintained his commitment to sustainable homeownership by increased funding for housing counselors by 150 percent since 2001, and this year's budget request calls for another $65 million.  

HUD's 2,300 counseling agencies across the country are on the front lines of saving families.  Last year, they reached more than 1.6 million households.  Together, HUD and NeighborWorks are acting quickly to give financially-strapped families the immediate and long-term assistance they need right now."

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