Friday, February 29, 2008

Stabenow and Levin bring home the bacon for foreclosure prevention

Good news, although late in the game -- Sen. Debbie Stabenow and Carl Levin announced that Southwest Solutions of Detroit will receive $315,652 to provide mortgage foreclosure mitigation assistance to families in need.

From their press release:
These grants are being awarded as part of the National Foreclosure Mitigation Counseling program, which is administered by the NeighborWorks America. NeighborWorks America is directed under the FY 2008 Consolidated Appropriations Act to allocate grant funding to qualifying organizations that provide mortgage foreclosure mitigation assistance in states and areas with high rates of defaults and foreclosures primarily in the subprime housing market.
Will it help? Getting the money is just the first step. It will have to be administered wisely by
NeighborWorks is a "national nonprofit organization created by Congress to provide financial support, technical assistance, and training for community-based revitalization efforts."

Southwest Solutions received the Best Managed Nonprofit of 2005 greater than $3 million by Crain's Detroit Business.