Springboard Receives $3 Million to Support Foreclosure Prevention Efforts

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NeighborWorks® America Grant Provides Much-needed Boost to Homeowners in Danger of Foreclosure

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The funding will help Springboard fulfill its mission to improve lives through stable homeownership and a healthy economy.

Springboard Nonprofit Consumer Credit Management, Inc.® (“Springboard”) is pleased to announce that it has received $3,207,687 from the National Foreclosure Mitigation Counseling (NFMC) Program to support foreclosure prevention counseling efforts. The much-needed boost will enable Springboard to meet the ongoing demand for mortgage delinquency and foreclosure prevention counseling to homeowners in danger of foreclosure. Springboard offers free home preservation and foreclosure prevention counseling through the NFMC Program.

“At a time when foreclosures continue to affect communities around the country and unemployment rates remain stubbornly high, the need for the NFMC funding is critical,” said Springboard President and Chief Executive Officer Todd Emerson. “We are elated to receive such a significant grant award. The funding will help Springboard fulfill its mission to improve lives through stable homeownership and a healthy economy,” added Emerson.

While the pace of home foreclosure has lessened nationally, many homeowners still face serious mortgage payment issues. The majority of Springboard clients report unemployment or underemployment as the primary reason they are facing foreclosure.

“We anticipate there will be additional need for our foreclosure prevention counseling in coming months as large numbers of home equity lines of credit become due. We are pleased to know that we will have the resources necessary to assist even more homeowners in distress,” added Emerson.

Borrowers who need help saving their home from foreclosure are encouraged to contact Springboard by dialing (800) 431-8456, or to find a certified housing counselor online visit http://www.homeownership.org.

About Springboard Nonprofit Consumer Credit Management, Inc.
SPRINGBOARD® Nonprofit Consumer Credit Management is a 501(c)(3) nonprofit personal financial education and counseling organization founded in 1974 with the mission of improving the financial well-being of individuals and families. Springboard is a HUD-approved housing counseling agency and a member of the National Foundation for Credit Counseling and Association of Independent Consumer Credit Counseling Agencies. Springboard offers personal financial education and assistance in credit counseling, housing counseling, debt and money management, pre-bankruptcy counseling and debtor education through educational programs and confidential coaching. Springboard is accredited by the Council on Accreditation, signifying the highest standards for agency governance, fiscal integrity, counselor certification and service delivery policies. Counseling is available by telephone nationwide or in-person at office locations in California, Arizona, Nevada, New Mexico, Texas, Massachusetts, South Carolina, Florida and Maryland. For more information on Springboard, please call 800-449-9818 or visit their website at Springboard.org.

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