The U.S. Department of Housing and Urban Development (HUD) has awarded more than $14.4 Million in housing counseling grants, according to a news release.
The grants will help to continue the work that was started in 2021 to reach deeper into underserved communities through partnerships between HUD-approved housing counseling agencies, historically Black colleges and universities and other Minority Serving Institutions, the agency said. The grants will support the comprehensive housing counseling services provided by grantees to homebuyers, homeowners, and renters.
“Homeownership is the primary way most people in this country build wealth," HUD Secretary Marcia L. Fudge said in a statement. "It has the power to transform not only your life, but the lives of your family members. Housing counseling services help ensure current and prospective homeowners have all the tools they need to purchase and maintain the homes of their dreams.”
A total of 180 housing counseling organizations have received the grants.
“Partnering with a housing counselor empowers individuals and families with the education and resources they need to make informed decisions regarding their housing needs," HUD Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon said in a statement. "These awards help to ensure that households across the country have access to high quality housing counseling services, particularly those for whom systemic barriers and racial inequities have made it difficult to obtain safe and affordable housing.”
HUD awarded more than $53 million in grants in fiscal year 2022 to support the vital services provided by the country's housing counselors. Housing counseling organizations with HUD approval offer services to meet all housing counseling requirements. These services include assisting prospective homeowners in determining their level of preparedness for a home purchase and navigating the home buying process, assisting families in locating reasonably priced rental housing, providing financial literacy training to individuals and families and offering foreclosure prevention counseling to distressed homeowners. HUD-approved housing counseling organizations also assist homeless people in finding temporary housing, support emergency preparedness and disaster recovery efforts and help seniors decide whether a HECM or other reverse mortgage makes sense for them.
