HUD AWARDS OVER $1.3 MILLION IN HOUSING COUNSELING GRANTS TO NEW JERSEY
HUD AWARDS OVER $1.3 MILLION IN HOUSING COUNSELING GRANTS TO NEW JERSEY
Funding intended to help families find and keep their homes
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today awarded $42.8 million in housing counseling grants to help approximately one million Americans make more informed housing choices, keep their current homes, or receive assistance to help them avoid foreclosure. Nearly half of the state and local counseling agencies awarded HUD grants received preference because they will provide counseling to individuals and families within designated Opportunity Zones (see attached list).
In New Jersey, seven grantees were awarded $1,319,353, two of them in designated Opportunity Zones. HUD grantees estimate that over 39,000 New Jersey residents will be served by HUD approved housing counseling agencies in the state.
“HUD-approved housing counseling agencies are on the front lines of helping individuals and families to find affordable rental housing or make more informed homeownership choices,” said HUD Secretary Ben Carson. “The funding we announce today will help families to realize their dreams—whether it’s owning a home, avoiding foreclosure, or finding an affordable place to rent.”
“First-time homeowners can depend on qualified counselors at HUD-approved agencies to help guide them through this intimidating process,” said Lynne Patton, HUD Regional Administrator for New York and New Jersey. “This grant will allow low and moderate income residents to receive these critical services and ensure permanent and financially stable housing.”
These grants will directly support the housing counseling services provided by 207 HUD-approved local housing counseling agencies, national and regional organizations, and state housing finance agencies (SHFAs). Read a comprehensive summary of each housing counseling grant.
Grant recipients will provide services to address a full range of housing counseling needs. This includes assisting homebuyers in evaluating their readiness for a home purchase and navigating through the homebuying process. The organizations also help households find affordable rental housing, offer financial literacy training to individuals and families, and provide foreclosure prevention counseling to help homeowners facing delinquency or default to understand their options for avoiding foreclosure.
In addition to providing counseling to homeowners and renters, these organizations assist homeless persons in finding transitional housing and help seniors determine whether a reverse mortgage makes sense for them.
There are many ways to locate a HUD-approved housing counseling agency. Visit HUD’s website or call (800) 569-4287 for our interactive telephone directory. Watch HUD’s video on how housing counseling can help families find (and keep) housing.
Housing Counseling Grants in Opportunity Zones
Created under the 2017 Tax Cuts and Jobs Act, Opportunity Zones aim to stimulate long-term investments in low-income communities by offering significant capital gains tax relief to those who invest in these distressed areas. This initiative is anticipated to spur $100 billion in private capital investment in Opportunity Zones. Incentivizing investment in low-income communities fosters economic revitalization, job creation, and promotes sustainable economic growth across the nation, especially in communities HUD serves. Applicants seeking funding under HUD’s Housing Counseling grant program receive bonus points to further drive public investment to these areas.
The following is a grantee breakdown of the funding announced today:
|
Fiscal Year 2019 Housing Counseling Grants
|
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|
State |
Recipient |
City |
Amount |
| New Jersey | Consumer Credit and Budget Counseling, dba National Foundation for Debt Management* | Marmora |
$158,547 |
| Garden State Consumer Credit Counseling, Inc. D/B/A/ Navicore Solutions* | Manalapan |
$556,769 |
|
| Housing & Community Development Network of New Jersey | Trenton |
$288,223 |
|
| Housing Authority of the City of Paterson* | Paterson |
$16,272 |
|
| New Jersey Housing and Mortgage Finance Agency* | Trenton |
$250,530 |
|
| North Hudson Community Action Corporation | Union City |
$16,272 |
|
| Senior Citizens United Community Services of Camden County, Inc. | Audubon |
$32,740 |
|
|
New Jersey Total |
$1,319,353 |
||
* Grantees received preference points for qualified activities within a designated Opportunity Zone.
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HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. More information about HUD and its programs is available on the Internet
at www.hud.gov and https://
You can also connect with HUD on social media and follow Secretary Carson on Twitter and Facebook or sign up for news alerts on HUD’s Email List.
