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Rhode Island to get federal funding to prevent foreclosures – Bryan

Posted: Monday, May 30, 2016 2:41 pm
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Updated: 3:03 pm, Mon May 30, 2016.

Rhode Island to get federal funding to prevent foreclosures

Associated Press |


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PROVIDENCE, R.I. (AP) — Rhode Island has been awarded an additional $630,000 in federal funding to help prevent foreclosures.

U.S. Sen. Jack Reed says the funding from NeighborWorks America’s National Foreclosure Mitigation Counseling program will be used to provide housing counseling for families at risk of foreclosure.

Rhode Island Housing will receive about $580,000. The rest of the money will be split between the West Elmwood Housing Development Corporation and ONE Neighborhood Builders.

The program was launched in late 2007 with funds appropriated by Congress to address the foreclosure crisis.

Rhode Island received $703,000 in NeighborWorks grants in March, bringing its total funding to more than $1.3 million this year.

Reed, a Rhode Island Democrat, says the money will help people access the information and assistance they need to navigate the loan modification process.

© 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Monday, May 30, 2016 2:41 pm.

Updated: 3:03 pm.


| Tags:


General News,



Foreclosure Rates,



Economy,



Business,



Real Estate,

| Location Tags:

Providence,

Rhode Island,

United States,

North America

Article source: http://www.theeagle.com/news/nation/rhode-island-to-get-federal-funding-to-prevent-foreclosures/article_b4601757-6b20-5bc2-89c7-b56d246f3ebb.html

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