The COVID-19 pandemic worsened existing inequalities across the United States. Unfortunately, many families and individuals across the U.S. continue to face job loss, financial instability and the threat of homelessness. A report by the Consumer Financial Protection Bureau (CFPB) shows that Black and Hispanic mortgage borrowers are more likely to be delinquent or in a forbearance program compared to white borrowers.
The American Rescue Plan Act of 2021 was signed into law by President Biden on March 11, 2021, in order to address these issues and stabilize our homes and communities. The legislation charged NeighborWorks America with designing and administering a national, $100 million housing counseling program that would provide grants to support housing counseling for households facing housing instability, such as eviction, default, foreclosure, loss of income or homelessness.
We designed the Housing Stability Counseling Program, with the help of a diverse set of stakeholders, to meet the needs of residents facing housing instability and ensure funds are released to housing counseling agencies throughout the nation as quickly as possible.
Read recent stories about the program's impact: