Foreclosure Education & Homebuyer Counseling Grants Announced

On April 9, the Baker-Polito Administration made $1.5 million in grants to fund first-time homeownership counseling programs and foreclosure prevention education centers throughout the Commonwealth. Twenty-one awards were made to ten consumer counseling organizations and eleven foreclosure prevention regional centers. This is the tenth year the Division of Banks has awarded financial education programming to support Massachusetts residents pursuing homeownership opportunities as well as those families working to stay in their homes.

The Division supports these programs by making Chapter 206 grants, which are funded by fees associated with the licensing of mortgage loan originators. These grants have enabled Regional Foreclosure Education Centers and Consumer Counseling Agencies to serve more than 4,700 Massachusetts consumers in 2017. More than 85 percent receiving Chapter 206 grant-related foreclosure counseling were able to avoid foreclosure and successfully remain in their homes.

For the Governor's press release on the grants, including information on the awardees, click here.