Masslive.com recently reported that HAPHousing, a non-profit organization that assists residents of Hampden and Hampshire County with everything from affordable housing to transitional housing, was recently awarded a $493,000 grant to fund their foreclosure prevention efforts.
The funds were part of the multi-state $25 billion settlement with five major banks: Bank of America, Wells Fargo, JP Morgan Chase, Citi, and GMAC. As part of the settlement with the commonwealth, $44,450, 668 went to Massachusetts to assist homeowners. The HAPHousing grant was funded through that money, specifically.
The news report stated that HAPHousing will use the grant funds for: “Reducing the high rate of default recidivism after loan modifications, and more aggressively catch and avert homebuyers from resorting to subprime loans; maximizing the number of households able to benefit from the refinancing and loan term relief available through the HomeCorps program; increasing outreach to at-risk homeowners; reaching out to banks to refer people turned down for initial mortgage or modification.”
If you require foreclosure prevention assistance, call HAPHousing at 413-233-1622 to set up a free and confidential appointment. You can also contact them here.
HAP stands for Housing Assistance Program.
If you are planning on buying or selling a home in the Pioneer Valley, make your first call to Michael Seward at 413-531-7129 or email me.