“A slumping economy, a downturn in the housing market, and predatory lending practices have led to a record number of families struggling to make the mortgage payment and many experiencing foreclosure,” said Stabenow. “This funding will help this organization continue to provide families in Flint with the assistance and financial advice necessary to help avoid the loss of their home and retain their piece of the American dream.”

"From my meetings around the state on this issue, I know firsthand that foreclosure prevention counselors are overwhelmed and that a lack of funds is tying the hands of local groups who are trying to help Michigan families," said Levin. "I am hopeful that these federal dollars will help counseling services in Flint and across the country keep families in their homes and help prevent the foreclosure crisis from deepening even further."

This federal funding will support the nationwide programs at Mission of Peace, a Flint-based United States Department of Housing and Urban Development (HUD) National Housing Counseling Agency with an affiliate network of housing counseling agencies throughout the country.

This grant is 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 housing counseling intermediaries approved by the U.S. Department of Housing and Urban Development to provide mortgage foreclosure mitigation assistance in states and areas with high rates of defaults and foreclosures primarily in the subprime housing market.