HUD ANNOUNCES FUNDING TO RHODE ISLAND HOUSING COUNSELING AGENCIES

The U.S. Department of Housing and Urban Development has awarded funding to two agencies in Rhode Island to
help families find housing or keep the homes they have. The funding is part of $41.7 million announced nationwide.

Rhode Island Housing received a $99,718 comprehensive housing counseling grant, and the Urban League of Rhode Island received a $35,696 comprehensive housing counseling grant, which assists 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. In addition, Rhode Island Housing also received a $54,379
predatory lending grant, 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.

"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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