Area agencies will provide first-time homeownership education and foreclosure prevention counseling programs paid for by the state Banking Division.
The consumer advisory organizations sharing the grants are ACT Lawrence, $102,000; Lawrence Community Works, $75,494; and Merrimack Valley Housing Partnership, $75,000. The Lowell-based Home Preservation Coalition of the Merrimack Valley is also receiving $239,641 for its foreclosure education center.
The grants help homeowners who are experiencing some type of financial hardship caused either by loss or reduction of income or a medical condition, as well as potential buyers who are determining if homeownership is right for them.
“The past two years have presented significant challenges to current and future owners. It is more important than ever to ensure that Commonwealth residents are able to obtain and retain home ownership,” said Under Secretary for Consumer and Business Regulation Edward A. Palleschi.
Banking Commissioner Mary L. Gallagher added, “The funded organizations have demonstrated strong work plans to continue to serve customers with innovative methods both in person and remotely. She said it was the 15th consecutive year for the grant program.