This morning, I was proud to vote for the passage of B.B. 516 out of committee which will provide immediate relief for the estimated 3,000 city residents facing foreclosure. These funds, matched by the Affordable Housing Commission, will partner city residents with organizations such as: Catholic Charities, Better Family Life, and Beyond Housing which will provide mortgage counseling and/or mortgage payment grants for city residents who earn at least 80% of the median income; with the average loan amount being $1,000.00.
To those that have never been behind in a mortgage payment, count yourself extremely blessed; the numbers are startling surrounding the average homeowner behind in their mortgage payments. I am pleased to see our city responding to this pressing crisis, and look forward to supporting additional programs that will enable homeowners to keep their homes.
