Rockingham Area Community Land Trust Receives $27,900
Rockingham Area Community Land Trust Receives $27,900 to Support Foreclosure Prevention Counseling EffortsGrant provides much-needed boost to southeastern Vermont homeowners in danger of foreclosureSpringfield VT (December 5, 2008) – Today Rockingham Area Community Land Trust announced that it has received $27,900 to support southeastern Vermont foreclosure prevention counseling efforts. The much-needed boost will enable the NeighborWorks HomeOwnership Center of Southeastern Vermont to provide more foreclosure counseling than ever before to area homeowners in danger of foreclosure. Bruce Whitney, HomeOwnership Center Director, states: “We are very pleased to be able to bring these resources to families in the region. We will be making every effort to reach people early in the process when there are many more possibilities for a successful resolution. I urge anyone who thinks they might be late on a mortgage payment in the near future or who has missed a payment to contact us.”The grant to support the Center’s foreclosure intervention efforts was provided by funds from the National Foreclosure Mitigation Counseling Program. The initial funding was provided by Congress in the FY08 Consolidated Appropriations Act and additional funding was provided through the Housing and Economic Recovery Act of 2008. The National Foreclosure Mitigation Counseling Program is administered through a competitive application process by NeighborWorks(r) America, within guidelines defined by Congressional legislation. NeighborWorks America is an independent, Congressionally-chartered non-profit organization based in Washington, D.C., with a mission to provide access to sustainable homeownership and safe, affordable rental housing.Foreclosure rates are increasing in southeastern Vermont. Vermont Banking Division data shows foreclosure filings in Windham and Windsor Counties was up by 56% in the third quarter of 2008 compared to the same time period of 2007. Whitney states: “While Vermont has so far been spared the levels of foreclosure happening elsewhere in the nation, nevertheless, more and more people are calling us every week to seek answers to their questions and get assistance in negotiating reasonable plans with the banks.” Vermont Housing Finance Agency and the Vermont Banking Division are working with the NeighborWorks Alliance of Vermont to bring resources to the people of Vermont facing foreclosure.For more information about the grant and how it will impact RACLT’s foreclosure prevention efforts, please contact Bruce Whitney (802) 885-3220 x 222.About Rockingham Area Community Land TrustRACLT’s mission is to maximize affordable housing opportunities for the people of southeastern Vermont. RACLT owns over 350 apartments in this region, has limited appreciation agreements with 60 homeowners, and operates the NeighborWorks(r) Homeownership Center of Southeastern Vermont. It is governed by a ten-person volunteer Board of Directors, and has 13 staff members.For more information about Rockingham Area Community Land Trust please visit raclt.org or call (802) 885-3220 x 210.###