Fayette gets housing grant
The U.S. Department of Housing and Urban Development has awarded the Fayette County Community Action Agency $25,000 to provide housing counseling services. “Adequate housing is one of our most pressing needs, yet many people don’t have the experience necessary to avoid the potential pitfalls of buying a home or finding a suitable apartment that will fit into their budget,” U.S. Rep. John Murtha said in announcing the grant.
“These funds support counselors that can provide the guidance and advice they need.”
Counselors provide services to homebuyers, homeowners, low- to moderate-income renters and the homeless.
They can provide advice to help borrowers avoid inflated appraisals, unreasonably high interest rates, unaffordable repayment terms and other conditions that can result in a loss of equity, increased debt, default and eventually foreclosure or guide elderly homeowners who need to convert the equity in their homes into income that can be used to help them pay for home improvements, medical costs or living expenses.