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ยป VISIT US ONLINE @ DSNEWS.COM 77 IN THE NEWS NeighborWorks America Awards $44.8 Million Through Foreclosure Mitigation Counseling Program Washington, D.C.-based nonprofit NeighborWorks America has announced the awarding of $44.8 million to various organi- zations in the National Foreclosure Mitiga- tion Counseling (NFMC) program to help distressed families and individuals whose homes are facing foreclosure. While foreclosure numbers have declined significantly since the peak years of 2010 and 2011, a recent uptick in foreclosure starts dem- onstrates the need still exists for loss mitiga- tion programs such as the NFMC to help families and individuals stay in their homes when their mortgages become delinquent. e current demand for NFMC grant funds ($87 million) was nearly double the amount of $44.8 million that was awarded. e latest grants were awarded to 25 state housing finance agencies, 18 HUD-approved housing counseling intermediaries, and 68 community-based NeighborWorks orga- nizations. is is the ninth round of grant funding conducted through the NFMC program and it is expected to directly assist approximately 130,000 homeowners who are facing foreclosure. A NeighborWorks study prepared last year by the Urban Institute found that homeowners who work with NFMC counselors were twice as likely to cure a serious delinquency or foreclosure and three times as likely to receive some type of permanent loan modification. rough the latest grand funding awards, more than 1,100 nonprofit counseling agen- cies and local NeighborWorks organizations are expected to participate in the NFMC program, which provides free assistance to homeowners who are at risk of foreclosure and determines their eligibility for state and federal loss mitigation programs to help prevent foreclosure. Foreclosure prevention counselors will work with the homeowners to help them understand the foreclosure process and assist them with identifying courses of actions to take so that the homeowners can make informed decisions with regards to their homes. In addition to directly helping families, the funding will also go to training fore- closure counselors through the NFMC program. NeighborWorks estimates that this round of grant funding will go toward train- ing about 1,600 foreclosure counselors. e latest round of grant funding brings the total awarded through the NFMC program since March 2008 to more than $750 million. District of Columbia RANK: 8 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate FEBRUARY 2015 1.58% 2.14% 7.8 YEAR AGO 2.64% 2.06% 7.8 YEAR-OVER-YEAR CHANGE -39.9% 4.1% 0 Top County DISTRICT OF COLUMBIA 90+ Day Foreclosure Delinquency Rate Rate FEBRUARY 2015 1.58% 2.14% YEAR AGO 2.64% 2.06% YEAR-OVER-YEAR CHANGE -39.9% 4.1% Top Core-Based Statistical Area WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 90+ Day Foreclosure Delinquency Rate Rate FEBRUARY 2015 1.76% 1.16% YEAR AGO 2.64% 2.06% YEAR-OVER-YEAR CHANGE -33.1% -43.8% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2015 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary February 2015 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Maine RANK: 5 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate FEBRUARY 2015 3.35% 2.60% 5 YEAR AGO 2.52% 4.48% 5.9 YEAR-OVER-YEAR CHANGE 33.0% -42.1% -0.9 Top County SOMERSET COUNTY 90+ Day Foreclosure Delinquency Rate Rate FEBRUARY 2015 5.58% 5.23% YEAR AGO 3.44% 9.06% YEAR-OVER-YEAR CHANGE 61.9% -42.3% Top Core-Based Statistical Area LEWISTON-AUBURN, ME 90+ Day Foreclosure Delinquency Rate Rate FEBRUARY 2015 4.56% 4.07% YEAR AGO 3.12% 6.37% YEAR-OVER-YEAR CHANGE 46.1% -36.2% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2015 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary February 2015 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Maryland RANK: 12 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate FEBRUARY 2015 2.63% 2.02% 5.5 YEAR AGO 3.29% 2.84% 6 YEAR-OVER-YEAR CHANGE -20.1% -28.6% -0.5 Top County SOMERSET COUNTY 90+ Day Foreclosure Delinquency Rate Rate FEBRUARY 2015 5.58% 5.23% YEAR AGO 3.44% 9.06% YEAR-OVER-YEAR CHANGE 61.9% -42.3% Top Core-Based Statistical Area CAMBRIDGE, MD 90+ Day Foreclosure Delinquency Rate Rate FEBRUARY 2015 2.98% 3.74% YEAR AGO 4.76% 4.33% YEAR-OVER-YEAR CHANGE -37.4% -13.6% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the February 2015 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary February 2015 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. The year-over-year increase in foreclosure inventory in Washington, D.C. for February. Only Washington, D.C. and two states (Wyoming at 14.8 percent and Massachusetts at 6.6 percent) experienced increases. Source: CoreLogic STAT INSIGHT 32.6%