NeighborWorks America Announces That More Than 1.3 Million Households Have Received Help From National Foreclosure Mitigation Counseling Program

Washington, D.C. – June 12, 2012 – (RealEstateRama) — More than 1.3 million homeowners have received foreclosure prevention counseling by local nonprofits and state housing finance agencies participating in the National Foreclosure Mitigation Counseling (NFMC) program administered by NeighborWorks America, one of the nation’s largest community development corporations. The latest report on the NFMC program also found that 51% percent of homeowners seeking help are women, and overall that 20% of the people being served by NFMC counselors have mortgage rates that exceed 8%. The national level for the 30-year mortgage has averaged less than 5% since April 2010.