Federal Funds Will Help Provide Financial Counseling Services to New Homebuyers, Homeowners, Renters
Albany, NY – April 14, 2015 – (RealEstateRama) — U.S. Senators Charles E. Schumer and Kirsten Gillibrand today announced that the U.S. Department of Housing and Urban Development (HUD) will provide $13,258 in federal funding for Better Neighborhoods, Inc., located in Schenectady. This money will be provided through HUD’s Housing Counseling Program to help these organizations improve financial literacy, expand homeownership opportunities, improve access to affordable housing, and preserve homeownership for residents.
“This federal funding will help Better Neighborhoods, Inc. provide residents with the resources they need to find affordable housing as well as enhance counseling services for new homeowners or renters,” said Senator Schumer. “Counseling programs have been proven to stem the tide of foreclosures, and this will be a sound investment in providing our community members with the tools and skills necessary to find safe places to live and do so with confidence in their financial literacy.”
“Organizations like the Better Neighborhoods, Inc. provide invaluable services like counseling, financial guidance and help finding affordable and permanent housing,” said Senator Gillibrand. “I will continue to push for investments in programs like this one that help ensure families in Schenectady have access to a safe, affordable place to live.”
For nearly 50 years Better Neighborhoods, Inc. has worked to rehabilitate and rebuild homes in Schenectady with the goal of increasing home ownership across the region.
HUD’s Housing Counseling Program grants support a variety of housing counseling services to homebuyers, homeowners, low- to moderate-income renters, and the homeless. Counselors provide guidance and information to help individuals and families improve their housing conditions and be responsible tenants and homeowners. Counseling services include guidance for homeowners to prevent or resolve mortgage delinquency, default, and foreclosure.