North Carolina Financial Planning Newsroom

An estimated 730,000 individuals and families to benefit from housing counseling North Carolina Receives Over $870,000

GREENSBORO - Nearly 730,000 individuals and families will have a greater opportunity to find housing or keep the homes they have because of more than $37 million in housing counseling grants announced today by Housing and Urban Development Secretary Mel Martinez. In his announcement, Secretary Martinez stated that North Carolina receives $870,726. (See attached chart for North Carolina grant recipients.)

It is estimated these grants will assist more than 430,000 people to either become first-time homeowners or remain homeowners after their purchase. The grants were awarded to 17 national and regional organizations and approximately 350 state and local housing counseling agencies. These organizations will provide counseling services and will help meet the Bush Administration's goal of increasing minority homeownership by 5.5 million families by the end of the decade.

"These housing counseling grants are an important part of this Administration's goal to expand homeownership opportunities, particularly for minorities," said Martinez. "President Bush and I are committed to opening the doors to the American Dream to more American families."

The 17 national and regional agencies distribute much of the HUD funding to community-based grassroots organizations that provide free 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. Notably, 3 of the 17 intermediaries are faith-based, including 2 that are first time housing counseling grant recipients. Read more at hud.gov

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