June 09, 2011
Colorado Housing Finance Authority
Colorado Housing and Finance Authority (CHFA) and 13 nonprofit housing counseling partners announced that Colorado has been awarded a $1.2 million federal grant from NeighborWorks America to continue foreclosure prevention efforts across the state in 2011. This is the fourth grant award CHFA and its partners have received through NeighborWorks America’s National Foreclosure Mitigation Counseling program. CHFA’s previous grants, which total $4.1 million, have helped over 10,000 Colorado households receive free, professionally trained housing counseling services. A portion of the grant proceeds will also support the Colorado Foreclosure Hotline, 1-877-601-HOPE.
"This funding is critical to helping Coloradans avoid foreclosure," said CHFA Executive Director and CEO, Cris White. "The demand for housing counseling remains high as unemployment continues and hundreds of Colorado households struggle to balance their mortgage payments.” White continued, “The National Foreclosure Mitigation Counseling Program has already helped over 10,000 Colorado households receive assistance, but unfortunately the need is ongoing. Our 13 housing counseling partners will use these new funds to pay for housing counseling services, so homeowners can access help free-of-charge from a trusted and reliable source."
Housing counselors assist homeowners communicate with their lender about a mortgage loan in default or at-risk of foreclosure. CHFA advocates homeowners work with locally-based housing counselors because they are more likely to understand the local real estate market, and any unique grants or financing programs available through community organizations. Because of their expertise and frequency working with different lending institutions, local housing counselors also know the best and most appropriate loan servicing contacts to help a borrower given their unique situation.
Homeowners interested in seeking help may obtain housing counseling services in their area from any of CHFA's 13 counseling partner agencies:
· Adams County Housing Authority, Commerce City
· Boulder County Housing Authority, Boulder
· Brothers Redevelopment, Inc., Denver
· City of Aurora, Aurora
· Colorado Housing Assistance Corporation, Denver
· Douglas County Housing Partnership, Castle Rock
· Grand Junction Housing Authority, Grand Junction
· Housing Solutions for the Southwest, Durango
· NEWSED, Denver
· NeighborWorks of Pueblo, Pueblo
· Northeast Denver Housing, Denver
· Southwest Improvement Council, Denver
· Upper Arkansas Area Council of Governments, Cañon City
"I'm pleased to see this level of support for housing counseling agencies here in Colorado," said Shannon Peer, director of housing counseling for Brothers Redevelopment, which headquarters the Colorado Foreclosure Hotline and manages its network of affiliate housing counseling agencies. "This award ensures that homeowners statewide will continue to receive free and essential foreclosure prevention counseling from caring professionals at trusted, HUD-approved agencies.”
Funding for the grant was provided by Congress in the FY2011 Consolidated Appropriations Act. A total of $67.7 million was awarded by NeighborWorks nationwide to 37 state housing finance agencies (HFAs), 17 HUD-approved housing counseling intermediaries, and 84 community-based NeighborWorks organizations. The grant program is administered through a competitive application process by NeighborWorksAmerica, within guidelines defined by Congressional legislation. NeighborWorks America is an independent, Congressionally-chartered non-profit organization based in Washington, D.C., with a mission to provide access to sustainable homeownership and safe, affordable rental housing.
- Login or register to post comments
Printer-friendly version
