Colin McEwen

Neighborhood Development Services will receive $79,786 in foreclosure prevention funding. It is estimated that NDS will assist more than 350 families facing the threat of foreclosure during the next 12 months, and many more will be helped as new counselors can be trained.

NeighborWorks America announced that $130 million has been awarded to state housing finance agencies, HUD-approved housing counseling intermediaries and community-based NeighborWorks organizations to provide counseling to families and individuals facing the threat of foreclosure.

NDS executive director David Vaughan said the money is coming at a good time and NDS is working with attorneys in the county who have volunteered to assist homeowners through the court mediation process.

NeighborWorks was named in the FY2008 Consolidated Appropriations Act to administer a $180 million national mortgage foreclosure mitigation-counseling program.

Under the terms of the legislation, up to $5 million may be used for training of foreclosure prevention counselors across the nation and 4 percent of the funds may be used for administering the program. The remaining $167.8 million is funding grants to eligible recipients. The legislation stipulated that at least $50 million must be awarded in "areas of greatest need" within 60 days of enactment. Portage County and all of Northeast Ohio met the criteria of areas of greatest need.