CHICAGO – April 28, 2011 – Housing agencies find themselves scrambling to determine how they will serve their communities with dwindling resources after $88 million in housing counseling funds was eliminated from the federal budget.
The cuts in funding from the U.S. Department of Housing and Urban Development, part of the legislation signed by President Barack Obama this month to avert a government shutdown, come amid a recent push by HUD to warn consumers about mortgage-relief scams.
Worries about a potential rise in such scams, as well as having to charge consumers for counseling that was once largely free, have community groups and counseling agencies calling the maneuver ill-conceived and poorly timed.
Groups such as the National Urban League and the NAACP have predicted a troubling chain of events that could include a proliferation of scam artists, an increase in preventable foreclosures and fewer resources for homeowners who may be forced back into the ranks of renters.
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There will be advantages and disadvantages if this program goes away.
Read more at
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=259284
The cuts in funding from the U.S. Department of Housing and Urban Development, part of the legislation signed by President Barack Obama this month to avert a government shutdown, come amid a recent push by HUD to warn consumers about mortgage-relief scams.
Worries about a potential rise in such scams, as well as having to charge consumers for counseling that was once largely free, have community groups and counseling agencies calling the maneuver ill-conceived and poorly timed.
Groups such as the National Urban League and the NAACP have predicted a troubling chain of events that could include a proliferation of scam artists, an increase in preventable foreclosures and fewer resources for homeowners who may be forced back into the ranks of renters.
-----------------------------------------------------
There will be advantages and disadvantages if this program goes away.
Read more at
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=259284
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