Rep. Sutton Announces a $40,976 Housing Counseling Award to Fair Housing Contact Service in Akron

Washington, DC – October 14, 2009 – (RealEstateRama) — Today, Rep. Betty Sutton (D-OH) announced that the Fair Housing Contact Service in Akron will receive a $40,976 Housing Counseling Award from the U.S. Department of Housing and Urban Development. Funding from this award will be used to support delivery of counseling services to homebuyers, homeowners, low- to moderate-income renters, and the homeless. The primary objectives of the program are to improve financial literacy, expand homeownership opportunities, improve access to affordable housing and preserve homeownership. 

“Funding for this project will help the Fair Housing Contact Service support hard-working individuals and families achieve the American Dream of homeownership,” Rep. Sutton said. “These counseling services will empower homeowners and renters to make sound decisions that will allow them to remain in their homes.”

Counseling under this program will help potential homeowners avoid inflated appraisals, unreasonably high interest rates, unaffordable repayment terms, and other conditions that can result in the loss of equity, increased debt, mortgage default and eventually foreclosure. Counseling current homeowners can help prevent or resolve mortgage delinquency, default and foreclosure issues, with the primary objective of preserving homeownership. This funding will also allow the Fair Housing Contact Service to provide reverse mortgage counseling to elderly homeowners who seek to convert equity in their homes into income that can be used to pay for home improvements, medical costs, and living or other expenses.

“We are very pleased to be working with Congresswoman Sutton in order to provide Fair Housing Counseling programs,” said Andrea Victor, the President of the Fair Housing Contact Service. “Fair Housing issues affect an increasing number of people and we are thrilled to be able to continue to provide assistance to those who are in need.”

“Fair Housing Contact Service is so grateful to hear from Congresswoman Sutton that we have received this award,” said Tamala Skipper, the Executive Director of the Fair Housing Contact Service.  “With this support we can continue our work helping area homebuyers obtain fair and manageable loans and helping homeowners refinance or reduce their mortgage payments whenever possible.”

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Contact: Maureen Shanahan at 202-225-3401 or maureen.shanahan (at) mail.house (dot) gov