The Connecticut Housing Finance Authority (CHFA) has received a $224,070 grant from the U.S. Department of Housing and Urban Development to fund free housing counseling programs.
CHFA”™s programs range from education classes and credit counseling for potential homebuyers to foreclosure prevention counseling for homeowners struggling to pay their mortgages. In 2016, more than 6,400 people attended housing counseling sessions or online education funded by the agency.
“HUD research shows that an educated borrower is 42 percent less likely to have foreclosure problems in the future,” said CHFA Executive Director Karl Kilduff, who noted that this is the ninth year his organization has received HUD grants to fund its housing counseling programs.
Pre-purchase classes help potential borrowers determine if they are financially ready to buy a home and offer credit counseling for those who may need it. Pre-closing classes help buyers understand the steps involved in buying a home. Classes are offered by 12 housing counseling agencies. The pre-closing class is available online and borrowers can register through their CHFA lender.
CHFA education and counseling class schedules and contact information for registration are posted at www.chfa.org/homebuyered. Registration is handled by the housing counseling agencies across the state, which include Bridgeport Neighborhood Trust Inc.; Housing Development Fund Inc., with locations in Stamford, Bridgeport and Danbury; and the Urban League of Southern Connecticut Inc., with offices in Stamford and Bridgeport.
