BATON ROUGE, La. (AP) - In efforts to help families and individuals with housing needs and foreclosure prevention, the U.S. Department of Housing and Urban Development officials are awarding more than $40 million in housing counseling grants to 334 national, regional and local organizations. Among those groups, the Louisiana Housing Corporation in Baton Rouge was named as the only agency in the state to receive funds.
LHC, an agency with authority to undertake various programs to assist in the financing of housing needs in Louisiana for persons of low and moderate incomes, received $218,000.
The Times-Picayune reports the funds will be used for comprehensive counseling, which involves preparing participants for homeownership, explaining mortgage products, closing processes and other aspects so that potential homeowners will know what to expect in the process.