|FOR IMMEDIATE RELEASE
Tuesday, March 20, 2012
|Media Contact: Arlyne Alston
OHFA Receives NFMC Grant Funding to Support Foreclosure Counseling Throughout Ohio
COLUMBUS – The Ohio Housing Finance Agency (OHFA) was awarded more than $759,900 through the National Foreclosure Mitigation Counseling (NFMC) program to continue supporting the availability of foreclosure counseling and prevention services.
"Ohioans continue to struggle in an economy impacted by an unemployment rate of 7.7 percent," said Doug Garver, OHFA Executive Director. "The NFMC funding allows OHFA to continue supporting partnering agencies in their quest to provide assistance for struggling homeowners. This grant underscores OHFA's dedication to providing access to affordable and sustainable homeownership," Garver said.
Created by Congress in 2007, NFMC is designed to assist families at risk of foreclosure by connecting them to trained housing counselors. The program is administered through a competitive application process by NeighborWorks America, an independent, Congressionally-chartered nonprofit organization based in Washington, D.C.
More than $73 million went to 32 housing finance agencies (HFAs), 18 HUD-approved housing counseling intermediaries, and 86 community-based NeighborWorks organizations in the sixth round of funding. To date, OHFA has been the state's largest recipient of NFMC funds, receiving nearly $10 million.
Since the inception of the NFMC program, foreclosure counseling has been provided to more than 1,350,000 families in all 50 states, Puerto Rico and Guam. With the latest funding round, an estimated 190,000 families nationally are expected to receive counseling assistance. For additional information on the grant, visit www.nw.org/network/foreclosure/nfmcp.
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About the Ohio Housing Finance Agency
OHFA is a self-supporting quasi-public agency governed by an eleven-member board. The Agency uses federal and state resources to provide housing opportunities for families and individuals through programs designed to develop, preserve and sustain affordable housing throughout the State of Ohio. OHFA is also the administrator of the state's foreclosure prevention program, Restoring Stability: A Save the Dream Ohio Initiative.