With estimates showing a shadow inventory that numbers in the millions, it’s clear that the foreclosure crisis is not done wreaking havoc on the housing market. It seems that the ideal outcome for families, communities, and investors alike would include avoiding as many foreclosures as possible and keeping homes occupied. A number of strategies have been deployed in support of this goal, some more effective than others. One thread is common among the diverse array of approaches: the importance of HUD-certified housing counselors, who were hit with a major funding cut in the FY 2011 budget.
Please take action this week to help get this funding restored for the 2012 budget.
The contribution of housing counseling to stabilizing the economy is much more significant than the relative small figure of $88 million saved, since housing continues to serve as a drag on the economy. The cuts are heartless considering millions of families are still expected to go into foreclosure over the next several years, while other families are trying to take advantage of historic low housing prices to get into the market and get the economy moving again. They desperate need quality counseling.
Ask Congress to restore these critical housing counseling funds to HUD's Fiscal Year 2012 budget. We've gone through the worst foreclosure crisis since the Great Depression, and Congress shouldn't leave homeowners out in the cold. Tell Congress: Restore Housing Counseling to Keep People in Their Homes
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