HUD No. 00-305
Further Information:	For Release
In the Washington, DC area: 202/708-0685	Friday
Or contact your local HUD office	October 20, 2000

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CUOMO ANNOUNCES $6.6 MILLION IN HOUSING COUNSELING GRANTS TO PROMOTE HOMEOWNERSHIP AND COMBAT PREDATORY LENDING

WASHINGTON – As part of the U.S. Department of Housing and Urban Development’s on-going efforts to promote homeownership and combat predatory lending, HUD Secretary Andrew Cuomo today awarded $6.6 million in housing counseling assistance grants to 332 housing counseling agencies in 48 states, Puerto Rico, and the District of Columbia.

• help families make better, more informed home purchases;
  improve their ability to budget for needed home expenses and regular mortgage or rent payments; and,
  
  
• make the lending process less risky.
  

HUD awards annual grants under this program through a competitive process. Any organization that applies for a grant must be a HUD-approved housing counseling agency. Field Offices review the performance of each agency every two years to decide whether grantees can keep their HUD-approved status.

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