HUD Lends HOPE a Hand for Housing Counseling
Date Posted: May 30, 2024
Posted In: News, Organizations,
From St. Louis American: The Department of Housing and Urban Development is helping build HOPE throughout the St. Louis area.
Housing Options Provided for the Elderly (HOPE) in University City, Mo., is a recipient of $123,264 as part of $11 million being granted by the U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling.
The funds are earmarked to facilitate counseling services catering to the needs of homebuyers, homeowners, and renters across America.
Among HOPE’s services is reverse mortgage counseling. Its counselors assist seniors who are considering a reverse mortgage, offering accurate information from an unbiased source.
The agency also allows clients with low income or other hardships to finance the counseling fee, paying it from loan proceeds.
As stated on its website, HOPE’s mission is “Helping older adults live with dignity and independence in the housing most appropriate to their circumstances.” It is the only Missouri organization to receive the current boost in financing.
Many organizations receiving grants can use the funds to help bolster home ownership – a key to wealth building in Black and minority communities.
Vice President Kamala Harris said during a Milwaukee stop on her nationwide Economic Opportunity Tour, “Homeownership represents more than just a roof over our heads.
“It represents financial security, the opportunity to build wealth and equity, and a foundation for a better future for ourselves, our children, and future generations.”