Q:

What are some grants to help avoid foreclosure?

A:

Quick Answer

As of 2015, the grants that help to avoid foreclosure include NeighborWorks grants and Home Affordable Mortgage Program Incentive Grants, according to SFGate. The Foreclosure Alternative Relocation Grants and the Federal Housing Counseling Grants, which offers free counseling through HUD-approved counselors, are other grants that help borrowers to avoid foreclosure.

Continue Reading

Full Answer

NeighborWorks is a group of nonprofit organizations that help borrowers with foreclosure crisis to procure counseling and legal services by granting them money, notes SFGate. The National Foreclosure Mitigation Counseling Program is the program that allocates the money to NeighborWorks. The Home Affordable Mortgage Program, or HAMP, Incentive Grants prevent foreclosure by raising home equity of the borrowers, hence encouraging the borrowers to pay mortgages. Additionally, the HAMP program helps to lower the amount of money that the borrowers have to pay each month towards settling their loans by making changes to the loans.

Learn more about Credit & Lending

Related Questions

Explore