SACRAMENTO, Calif.--(BUSINESS WIRE)--The California Housing Finance Agency (CalHFA) today announced that it will receive more than $450,000 in additional federal dollars to provide free counseling to homeowners struggling to avoid foreclosure.
This is the ninth federal grant awarded to CalHFA and its long-time partner, the Rural Community Assistance Corporation, for their efforts. The additional $450,000 will support statewide efforts to provide counseling services to homeowners struggling to pay their mortgages. In total, the state has received more than $22 million since 2008 and helped more than 44,000 families. This additional grant will help provide counseling for at least 1,000 more families.
“While the number of home foreclosures is declining, there are still homeowners continuing to struggle with their mortgage payments," said Tia Boatman Patterson, Executive Director of CalHFA. "The additional funding will enable us to continue this critical counseling program, one of several ongoing efforts we are involved with to help homeowners throughout the state."
The grant was provided by funds from the National Foreclosure Mitigation Counseling Program. The National Foreclosure Mitigation Counseling Program is administered through a competitive application process by NeighborWorks® America, within guidelines defined by Congressional legislation.
The free counseling will be available to homeowners who have either fallen behind already or are in danger of falling behind on their mortgages. Homeowners in these situations can arrange counseling by contacting one of the U.S. Housing and Urban Development-approved counseling agencies in their area.
The California Housing Finance Agency was created in 1975 with the goal of helping more Californians have a place to call home. For more information on CalHFA programs, visit www.calhfa.ca.gov or call toll free 877.9.CalHFA (877.922.5432).