Menendez, Booker Announce Over $740K to New Jersey Agencies for Housing Counseling

WASHINGTON, DC – April 13, 2015 – (RealEstateRama) — U.S. Senators Bob Menendez and Cory Booker (both D-N.J.) today announced $744,095 in federal grants from the U.S. Department of Housing and Urban Development’s (HUD) Housing Counseling Program to 11 agencies throughout New Jersey.

“This important funding will help more New Jersey families navigate a path to affordable homeownership, while also helping those who are struggling find a way to stay in their homes,” said Senator Menendez, who has led the effort in the U.S. Senate to keep HUD’s Housing Counseling Program funded. “Housing counseling is a proven tool for improving access to housing and protecting consumers, and I remain committed to making sure our local housing counseling organizations can continue to help New Jerseyans obtain, maintain, and preserve their homes by making better informed choices about their financial and housing options.”

“Investing in financial literacy and proven homeownership programs is essential to helping low and moderate income families achieve the American dream of owning their own home,” said Sen. Booker. “These funds help support New Jerseyans and their communities by expanding homeownership opportunities and increasing access to affordable housing. I am committed to making sure federal resources are available to the housing counseling organizations that provide assistance and guidance to so many New Jersey families.”

The funding announced today:

• $14,977 to the Central Jersey Housing Resource Center, Inc.
• $79,966 to the Consumer Credit and Budget Counseling, DBA National Foundation for Debt Management
• $310,001 to the Garden State Consumer Credit Counseling, Inc. D/B/A/ Navicore Solutions
• $13,847 to the Greater Bergen Community Action, Inc.
• $131,489 to the Housing and Community Development Network of New Jersey
• $14,345 to the Housing Authority of the City of Paterson
• $139,532 to the New Jersey Housing and Mortgage Finance Agency
• $14,452 to the Ocean Community Economic Action Now, INC (O.C.E.A.N. Inc.)
• $12,321 to the Puerto Rican Association for Human Development, Inc.
• $13,941 to the Senior Citizens United Community Services of Camden County, Inc.
• $13,071 to the Housing Authority of the City

HUD’s Housing Counseling Program provides services to homebuyers, homeowners, low- to moderate-income renters, and the homeless in order to expand homeownership opportunities and improve access to affordable housing. Counselors provide guidance and advice to help families and individuals improve their housing conditions and meet responsibilities of tenancy and homeownerships. Counselors also help borrowers avoid inflated appraisals, unreasonably high interests rates, unaffordable repayment terms, and other conditions that can result in the loss of equity, increased debt, default, and foreclosure.

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