Stabenow also supported a separate $867,000 federal grant award to Mission of Peace in Flint in order to provide training and technical assistance to faith and community based organizations seeking to establish housing counseling programs across Michigan and across the country. Mission of Peace provides underserved Flint-area homeowners and families throughout Michigan with expert housing and financial counseling services. Senator Stabenow has led the way to ensure agencies like Mission of Peace and local governments receive the assistance they need to help families struggling to keep the American dream of homeownership a reality.

“With unemployment rising and hundreds of homeowners facing foreclosure, families in Michigan and across our country are suffering,” said Stabenow. “I am proud to announce that communities across our state will receive much-needed assistance to combat the rising number of foreclosures and to help stabilize our neighborhoods. With this funding, our state and local governments can help put thousands of families into a new home all while creating new jobs.”

“Mission of Peace National Corporation believes home buyer education is an integral part of the per purchase process,” said President and CEO Rev. Vincent. “Financial education is essential to making prudent money making decisions. Housing counseling gives sound mind in the home buying process.”

“The economic climate in Michigan and the country is getting worse,” said Mayor Don Williamson. “This has caused thousands of families to get behind on their bills and mortgage payments. The money we are receiving today will go a long way to help these families in Flint, Michigan.”

The funding allocated as part of the Housing and Economic Recovery Act of 2008 and signed into law this year, will be administered by the U.S. Department of Housing and Urban Development’s Neighborhood Stabilization program (NSP). The NSP provides emergency assistance to state and local governments to stabilize neighborhoods where home values are in decline due to foreclosures by purchasing and redeveloping foreclosed properties.

State and local governments will use their neighborhood stabilization grants to develop their own programs and funding priorities before December 1, 2008. NSP funding can be used to acquire land and property; to demolish or rehabilitate abandoned properties; and/or to offer down payment and closing cost assistance to low- to moderate-income homebuyers.

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