HUD ANNOUNCES FUNDING TO MAINE HOUSING COUNSELING AGENCIES

The U.S. Department of Housing and Urban Development has awarded funding to three agencies in Maine to help families find housing or keep the homes they have. (See attached list for recipients and grant amounts). The
funding is part of $41.7 million announced nationwide.

The housing counseling grants are awarded under three categories:

• Comprehensive counseling, which assist families in becoming first-time homeowners or remain homeowners
  after their purchase. Renters and homeless individuals and families will also benefit from the counseling
  offered by the grants.
  
  
• Predatory Lending, which assist unwary borrowers with avoiding unreasonably high interest rates, inflated appraisals, unaffordable repayment terms, and other conditions that can result in a loss of equity, increased debt, default, and even foreclosure.
  
  
• Section 8 Homeownership, which allows low-income individuals to use rental vouchers to purchase homes.
  These grant recipients will help program participants realistically evaluate their readiness for a home
  purchase, understand their financing and down-payment options, and navigate what can be an extremely
  confusing and difficult process.

"These organizations will provide counseling services that will help meet our goal of increasing minority
homeownership by 5.5 million families nationwide by the end of the decade," said HUD Regional Director Taylor
Caswell. "More families than ever are receiving counseling services and more families are purchasing and keeping
their homes."

Organizations that provide housing counseling services help people become or remain homeowners or find rental housing. HUD-funded housing counseling agencies also assist homeless persons to find the transitional housing they need to move toward a permanent place to live. HUD awards annual grants through a competitive process. Organizations that apply for grants must be HUD-approved and are subject to biennial performance reviews to maintain their HUD-approved status.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and, supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as
well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet and espanol.hud.gov.

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Housing Counseling Grants in Maine

Maine State Housing Authority
$73,359 - Comprehensive Counseling Grant

Pine Tree Legal Services, Portland
$40,000 - Predatory Lending Grant
$48,894 - Comprehensive Counseling Grant

Coastal Enterprises, Incorporated, Wiscasset
$33,260 - Comprehensive Counseling Grant
$14,450 - Predatory Lending Grant
$10,010 - Section 8 Homeownerhsip Counseling