Grant Provides Much-Needed Boost to California Homeowners in Danger of Foreclosure

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Making Home Affordable Program to Sunset

Springboard Nonprofit Consumer Credit Management, Inc. (“Springboard”) announced today that help is available for struggling homeowners in California at no cost thanks to grant funding from the National Foreclosure Mitigation Counseling (“NFMC”) Program.

Because 2016 marks the final year for the federally-funded Making Home Affordable (“MHA”) programs, this opportunity addresses an urgent need to connect homeowners with these valuable relief programs before time runs out. To be considered for assistance through MHA, a complete initial package must be submitted on or before December 30, 2016.

Since the housing crisis of 2007, Springboard, a U.S. Department of Housing and Urban Development approved housing counseling agency and annual recipient of NFMC funding, has provided an invaluable free service to well over 250,000 homeowners and their families. “Foreclosure prevention counseling is a lifeline for homeowners who are experiencing any level of difficulty in making their mortgage payments” says Melinda Opperman, Springboard’s Chief Relationship Officer. “Whether families are about to miss a mortgage payment or are already far behind, Springboard’s counseling delivers support, direct access to available resources, and tangible help to relieve mortgage and other related financial struggles.”

Although much has been written about a rebound in the housing market, the fact is, not all communities and homeowners are bouncing back at the same pace. Research shows there are still pockets of extraordinary need across the country, and California continues to be one of the most affected states. According to RealtyTrac, Butte County is struggling the most with 1 in every 580 homes receiving a foreclosure filing last month. That is 57% higher than the national rate of 1 in 1,353. In San Jose there were 905 properties in some stage of foreclosure as of March 28th; in Bakersfield, that number was 1,510; and in Sacramento, 2,701.

While national headlines move away from the devastating fallout of the housing crisis, it is crucial that struggling homeowners are made aware of the resources and programs that are still available. Early intervention is key to successfully preventing foreclosures, and the sooner a homeowner reaches out – even before missing a payment – the more likely it is that a counselor will be able to help.

Borrowers who need help saving their home from foreclosure are encouraged to contact Springboard by calling (877) 752-6722 or find a certified housing counselor online by visiting http://www.homeownership.org.

About Springboard

SPRINGBOARD® Nonprofit Consumer Credit Management is a nationwide 501(c)(3) non-profit personal financial education and counseling organization founded in 1974 with the mission of improving the financial wellbeing of individuals and families. Springboard is a U.S. Department of Housing and Urban Development approved housing counseling agency and a member of the Financial Counseling Association of America and the National Foundation for Credit Counseling; the nation’s longest serving nonprofit financial counseling organization. Springboard is also a proud member of the HOPE NOW Alliance, a cooperative effort between the U.S. government and mortgage market participants to help struggling homeowners. Springboard offers personal financial education and assistance in credit counseling, housing counseling, reverse mortgage, 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, Massachusetts, New Mexico, South Carolina, and Texas. For more information, please call 800-449-9818 or visit their website at http://www.credit.org.

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