OBAMA ADMINISTRATION ANNOUNCES NEARLY $73 MILLION IN COUNSELING GRANTS TO HELP FAMILIES FIND AND KEEP HOUSING
Missouri receives $511,523 in HUD funding to support ten counseling agencies

KANSAS CITY, KS - In an effort to help families find decent housing and to prevent future foreclosures, the Obama Administration today announced nearly $73 million in housing counseling grants to more than 500 national, regional
and local organizations. As a result of the funding announced today, thousands of households in Missouri will have
a greater opportunity to find housing or keep the homes they have because of the $511,523 housing counseling
and counseling training grants awarded today to ten housing counseling agencies in the state of Missouri.

The grants announced today represent a $13 million, or 22 percent increase over last year's funding level. In announcing the grant awards, HUD Secretary Shaun Donovan said HUD-approved housing counseling agencies
are a critical part of the nation's housing recovery.

"These organizations are on the front lines of helping families who are desperate to remain in their homes," said Donovan. "Now, more than ever, it's crucial that we support these agencies that are working with struggling
families on a one-to-one basis to manage their money, navigate the homebuying process, and secure their
financial futures."

Housing counseling grants will assist families in becoming first-time homeowners and remaining homeowners after
their purchase. HUD-approved counseling agencies not only provide homeownership counseling, but also offer
financial literacy training to renters and homeless individuals and families.

"Now, more than ever, it is crucial that Americans better understand how to manage their money, navigate the homebuying process, and secure their financial future," said Donovan. "This critical funding will help counseling organizations continue to assist families in making more informed choices before they purchase a home and counsel families facing foreclosure."

National and regional agencies distribute much of HUD's housing counseling grant funding to community-based grassroots organizations that provide advice and guidance to low- and moderate-income families seeking to improve their housing conditions. In addition, these larger organizations help improve the quality of housing counseling
services and enhance coordination among other counseling providers.

The organizations that provide housing counseling services help people become or remain homeowners or find rental housing, and assist homeless persons in finding the transitional housing they need to move toward a permanent
place to live. Grant recipients also help homebuyers and homeowners realistically evaluate their readiness for a
home purchase, understand their financing and downpayment options, and navigate what can be an extremely confusing and difficult process. These agencies also help elderly homeowners who seek to convert equity in their homes into income that can be used to pay for home improvements, medical costs, and other living expenses
through Home Equity Conversion Mortgages (HECM).

In addition, grantees help combat predatory lending by helping unwary borrowers review their loan documentation, and avoid potential mortgage scams, 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. Likewise, foreclosure prevention counseling helps homeowners facing delinquency or default employ strategies, including expense reduction, negotiation with lenders and loan servicers, and loss mitigation, to avoid foreclosure. With foreclosures at critical levels nationwide, these services are more important than ever.

HUD awards annual grants under the housing counseling program through a competitive process. Organizations that apply for grants must be HUD-approved and are subject to performance reviews to maintain their HUD-approved status.

For a list of all grants, organized by state, visit HUD's website.
For summary of each grant, organized by state, visit HUD's website.

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HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet and espanol.hud.gov.