R.I. to receive $629K in foreclosure prevention funds

U.S. SEN. Jack F. Reed said Rhode Island will receive an additional $629,160 in federal funding to continue to provide housing counseling to struggling Rhode Islanders through NeighborWorks America’s National Foreclosure Mitigation Counseling program. / COURTESY OFFICE OF U.S. SEN. JACK F. REED
U.S. SEN. Jack F. Reed said Rhode Island will receive an additional $629,160 in federal funding to continue to provide housing counseling to struggling Rhode Islanders through NeighborWorks America’s National Foreclosure Mitigation Counseling program. / COURTESY OFFICE OF U.S. SEN. JACK F. REED

PROVIDENCE – Rhode Island will receive an additional $629,160 in federal funding to continue to provide housing counseling to struggling Rhode Islanders through NeighborWorks America’s National Foreclosure Mitigation Counseling program, U.S. Sen. Jack F. Reed said this week.

This funding is in addition to $703,000 in NeighborWorks grants that Rhode Island received in March, bringing the state’s total to over $1.3 million this year, Reed said.

The funding breaks down as follows:

  • $579,120 to Rhode Island Housing
  • $25,020 to the West Elmwood Housing Development Corp.
  • $25,020 to ONE Neighborhood Builders

Funds will be used to help neighborhoods hit hard by the foreclosure and economic crisis. Counseling to homeowners facing foreclosure will be offered. Money also will be used for potential mortgage modification, to train foreclosure counselors and assist with expenses related to implementing NFMC.

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“I commend these organizations for providing free housing counseling to help Rhode Islanders keep their homes. The loan modification process can be difficult to navigate, and these additional funds will help connect Rhode Islanders with the information, assistance and guidance they need before time runs out. We want to spread the word and let folks know that help is available,” Reed said in a statement.

Homeowners seeking assistance with mortgage payments may contact Rhode Island Housing’s HelpCenter at: (401) 457-1130. Homeowners may also visit www.makinghomeaffordable.gov or call the national hotline at: 888-995-HOPE (4673) to apply for help. There should never be a fee for assistance with or information about the Making Home Affordable Program, according to information from Reed’s office.

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