HUD Grant Will Combat Predatory Lending
$17.5 Million Awarded To National And Local Agencies

The U.S. Department of Housing and Urban Development announced it has awarded $17.5 million in housing counseling assistance grants to 11 national and regional intermediary agents and 358 local and state housing counseling agencies. The grants are part of HUD’s on-going efforts to promote homeownership and combat predatory lending. They will be used nationwide to counsel current and prospective homeowners.

The 11 intermediary agencies will receive grants totaling $9.95 million. These agencies distribute much of the HUD funding to grassroots level affiliates and branches that provide advice and guidance to low- and moderate-income families seeking to improve their housing conditions, a HUD news release said.

The 358 local and state grants include $6.6 million to 340 local housing counseling agencies and $1 million to 18 state housing finance agencies.

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