Springboard Receives $3 Million to Support Foreclosure Prevention Efforts

Springboard Nonprofit Consumer Credit Management, Inc.® (“Springboard”) is pleased to announce that it has received $3,207,687 from the National Foreclosure Mitigation Counseling (NFMC) Program to support foreclosure prevention counseling efforts. The much-needed boost will enable Springboard to meet the ongoing demand for mortgage delinquency and foreclosure prevention counseling to homeowners in danger of foreclosure. Springboard offers free home preservation and foreclosure prevention counseling through the NFMC Program.

“At a time when foreclosures continue to affect communities around the country and unemployment rates remain stubbornly high, the need for the NFMC funding is critical,” said Springboard President and Chief Executive Officer Todd Emerson. “We are elated to receive such a significant grant award. The funding will help Springboard fulfill its mission to improve lives through stable homeownership and a healthy economy,” added Emerson.

While the pace of home foreclosure has lessened nationally, many homeowners still face serious mortgage payment issues. The majority of Springboard clients report unemployment or underemployment as the primary reason they are facing foreclosure.

“We anticipate there will be additional need for our foreclosure prevention counseling in coming months as large numbers of home equity lines of credit become due. We are pleased to know that we will have the resources necessary to assist even more homeowners in distress,” added Emerson.

Borrowers who need help saving their home from foreclosure are encouraged to contact Springboard by dialing (800) 431-8456, or to find a certified housing counselor online by visiting homeownership.org.