The much-needed funding will enable the nearly 40 local organizations across country to provide more foreclosure counseling to homeowners in danger of foreclosure. A recent NeighborWorks America study prepared by the Urban Institute looked at the effectiveness of the NFMC program and found that homeowners who work with NFMC counselors such as the HomeFree-USA network agencies were nearly twice as likely to cure a serious delinquency or foreclosure, and nearly three times as likely to receive a modification cure.
While the pace of home foreclosure has lessened nationally, many homeowners continue to face serious mortgage payment issues.