The funding will go to more than 160 HUD-approved agencies, state housing finance organizations, and nonprofits that offer housing counseling services. The money is intended to support various programs, including pre-purchase counseling, foreclosure prevention, financial literacy, reverse mortgage counseling, and more.
Part of the funding will also focus on addressing the racial homeownership gap, with 14 HUD-approved agencies partnering with Historically Black Colleges and Universities (HBCUs) to provide targeted support to underserved communities.
In addition to expanding funding, HUD recently modernized its approach to housing counseling. The agency now allows virtual methods to increase access, especially for people in remote areas. HUD has also updated its Housing Counseling Program Handbook, making it available in multiple languages to better serve diverse communities.
This move is expected to significantly increase the reach of housing counseling programs across the country.
A new partnership with Zillow was also launched as part of the “Let’s Make Home the Goal” campaign, which aims to raise awareness of pre-purchase counseling and address systemic barriers to homeownership in communities of color.