Homeownership in the River Valley Becomes Easier Thanks to Federal Grant

Posted by Arkansas RealEstateRama

October 8, 2008

Washington, D.C. - October 08, 2008 - (RealEstateRama) — U.S. Senators Blanche Lincoln and Mark Pryor, along with U.S. Representative John Boozman (AR-03) today announced that the Crawford-Sebastian Community Development Council is the recipient of a $28,662 grant through the Housing Counseling Program from the U.S. Department of Housing and Urban Development.

“With today’s economic turmoil, purchasing a home can be difficult. These funds will help residents of Northwest Arkansas make smart decisions as they work to achieve their goal of homeownership. I remain committed to helping Arkansans achieve their American dream, and I’m pleased to see the Crawford-Sebastian Community Development Council receive this grant,” said Lincoln.

“Buying a home is one of life’s biggest investment decisions,” said Pryor. “These funds for housing counseling will encourage River Valley families to make smart investment choices and prevent many from losing their homes.”

“This grant will help educate Arkansans on making wise decisions when purchasing a home and being a responsible homeowner,” Boozman said. “The opportunities Third District residents will get thanks to this funding will improve our communities and the quality of life for the entire state.”

The Housing Counseling Program expands homeownership opportunities and improves access to affordable housing. Counselors help borrowers avoid inflated appraisals, unreasonably high interest rates, unaffordable repayments terms and other conditions that can result in a loss of equity, increased debt, default and foreclosure.

Contact:
Sara Lasure
(202) 225-4301

Share it: These icons link to social bookmarking sites where readers can share and discover new web pages.