HELENA, MT – October 15, 2009 – (RealEstateRama) — Montana’s Congressman, Denny Rehberg, announced the Montana Board of Housing has been awarded $170,297 from the U.S. Department of Housing and Urban Development (HUD) for housing in Montana. The grant supports a wide variety of counseling services for Montana homebuyers, homeowners, low-to-moderate income renters, and the homeless.
“The economy, with the national unemployment rate at a 26-year high, has placed a strain on many families’ budgets. That’s why it’s critically important to have services available to help families keep a roof over their heads,” said Rehberg, a member of the House Appropriations Committee. “This grant will help families and individuals make better, more informed choices when it comes to home-buying, homeownership, and renting.”
The main goal of HUD’s Housing Counseling Program is to improve financial literacy, expand homeownership opportunities, and preserve homeownership. Counselors provide guidance and information to help families improve their housing conditions, modify or refinance loans, resolve mortgage delinquency and foreclosure, avoid inflated appraisals, unaffordable repayment terms and other conditions that can result in a loss of equity, increased debt, or foreclosure.
The Montana Board of Housing administers the program through the help of local organizations, like NeighborWorks Montana, according to Board of Housing Home Ownership Program Manager, Nancy Leifer. “NeighborWorks Montana and all of its partners have outstanding outreach and education programs,” Leifer said. “They play a vital part in helping to achieve quality, affordable housing in Montana.”
The District IX Human Resource Development Council, of Gallatin County, also received a grant of $44,472 from HUD for housing counseling.
