Menendez, Booker Announce $482K for NJ Housing Counseling

Menendez, Booker Announce $482K for NJ Housing Counseling

    

WASHINGTON, D.C. – U.S. Senators Bob Menendez and Cory Booker (both D-NJ) today announced a combined $482,483 in federal grants from the U.S. Department of Housing and Urban Development's (HUD) Housing Counseling Program to seven local agencies throughout New Jersey.

“This funding will go a long way toward supporting quality housing counseling services that empower New Jerseyans with the tools necessary to stay in their homes or access affordable housing,” said Sen. Menendez, who has led the effort in the U.S. Senate to keep HUD's Housing Counseling Program funded. “By supporting these kinds of services, we are making critical investments in our communities that will help ensure New Jersyans obtain, maintain, and preserve their homes. That is why I have and will continue to fight for funding our local housing organizations, so that families have the resources to make well-informed decisions about their housing and financial stability."

"Housing counseling organizations across our state play a critical role in helping low and moderate income families understand their housing options and make knowledgeable decisions,” said Sen. Booker.  "By expanding homeownership opportunities and increasing access to affordable housing, this funding takes an important step towards preserving the core of New Jersey’s communities.”

The funding announced today provides:

  • $14,500.00 to the Central Jersey Housing Resource Center
  • $16,258.00 to the County of Bergen, Department of Human Services, Division of Senior Services
  • $257,837.00 to the Housing and Community Development Network of New Jersey
  • $19,501.00 to the Housing Authority of the City of Paterson
  • $136,430.00 to the New Jersey Housing and Mortgage Finance Agency
  • $16,115.00 to the North Hudson Community Action Corporation
  • $21,842.00 to the Ocean Community Economic Action Now, Inc. (O.C.E.A.N., Inc.)

HUD’s Housing Counseling Program provides services to homebuyers, homeowners, low- to moderate-income renters and the homeless, in order to expand homeownership opportunities and improve local access to affordable housing. Counselors at these organizations provide guidance and advice to help families and individuals to improve their housing conditions and meet responsibilities of renting and homeownership. Counselors also help borrowers avoid inflated appraisals, unreasonably high interests rates, unaffordable repayment terms and other conditions that can result in the loss of equity, increased debt, default and foreclosure.   

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