National Homeownership Month Nears End
As National Homeownership Month comes to a close, the successful string of summits and workshops continue. At a recent summit for California professionals, Alphonso Jackson spoke about not only the importance of ending predatory lending and FHA reform, but the all important topic of education. The article points out a very important point made at a recent summit in DC:
A recent HUD-sponsored homeownership summit in Washington, D.C. revealed that half of all homeowners facing foreclosure are afraid to contact their lender for help. Jackson said he encourages families to contact one of the 2,300 HUD-approved housing counseling programs, which offer a wide array of services for buying a home, avoiding predatory lending, and assisting homeowners facing default. The Bush Administration has increased the budget for counseling from $13 million to $41 million – over a 200% increase. In the coming fiscal year, the President has requested $50 million for housing counseling grants.
200%!!! HUD and the FHA definitely have the right idea, and here we see that there is the money to put the plans in motion. Now it’s a matter of getting people to participate.
