Section Highlights

Report Documents NFMC Successes

Homeowners counseled through the National Foreclosure Mitigation Counseling Program were nearly twice as likely to obtain a mortgage modification and at least 67 percent more likely to remain current on their mortgages nine months after receiving one.

Read More»

Resources




National Foreclosure Mitigation Counseling Program

More Information

The National Foreclosure Mitigation Counseling (NFMC) Program was launched in December 2007 with funds appropriated by Congress to address the nationwide foreclosure crisis by dramatically increasing the availability of housing counseling for families at risk of foreclosure. NeighborWorks America distributes funds to competitively selected grantee organizations, which in turn provide the counseling services, either directly or through sub-grantee organizations. Grants are also being made to fund legal assistance to homeowners and to train foreclosure counselors. Upwards of 1,700 counseling agencies operate under the program.

Announcements

  • New! NFMC Announces a Seventh Round of Funding for Foreclosure Counseling
    On April 15, 2013, NeighborWorks America announced that $70.1 million has been awarded to 30 state housing finance agencies (HFAs), 17 HUD-approved housing counseling intermediaries, and 72 community-based NeighborWorks organizations to provide counseling to families and individuals facing the threat of foreclosure. Just one month after the seventh round of National Foreclosure Mitigation Counseling (NFMC) Program funds were appropriated; communities across our country will be able to put the funds to immediate use. For more information, see the Round 7 page of this website.
  • NFMC Releases Eighth Congressional Report (December 10, 2012)
    On December 10, NeighborWorks America released its eighth report to Congress on NFMC program activity. For additional information and access to the report, go to NFMC Congressional Reports.
  • A report prepared by the Urban Institute shows that homeowners who received NFMC counseling were nearly twice as likely to obtain a mortgage modification and at least 67 percent more likely to remain current on their mortgage nine months after receiving one. The report also shows that homeowners received, on average, a mortgage modification that lowered their payment by $176 more per month, than homeowners who didn’t work with an NFMC counselor – a savings of close to $2,100 a year. Learn more.

Foreclosure Counseling Training

NFMC Funds are being used to build mortgage foreclosure and default mitigation counseling capacity of counseling organizations. NeighborWorks is providing:

  • Scholarships to attend NeighborWorks Training Institutes
  • Regional, multi-course Place Based Trainings sponsored and hosted by
    NeighborWorks America
  • Place-Based Trainings sponsored by NeighborWorks America and
    hosted by HUD Intermediaries and/or state Housing Finance Agencies
  • Three on-line foreclosure counseling/program courses

For information about accessing these opportunities, go to the NeighborWorks Center for Homeownership Education and Counseling (NCHEC) Foreclosure Counseling Training Program.

For more information about the National Foreclosure Mitigation Counseling Program, call 202-220-6314, or email nfmc@nw.org.
National Programs | Training and Certification | Foreclosure Resources
News and Media | About Us | Info for Nonprofits | Info for Donors | Info for Consumers
Unless otherwise noted, all content © 2013 Neighborhood Reinvestment
Corporation, dba NeighborWorks® America. All rights reserved
For questions about this Web site visit our Help Page
Home | Careers | Contracting & Consulting | Subscribe | Member Login | Contact
Terms of Use | Privacy Policy
1325 G St., NW, Suite 800, Washington, DC 20005-3100
Phone: (202) 220-2300 | Fax: (202) 376-2600