Colorado Foreclosure Hotline Wins Grant Money
DENVER (AP) - The Colorado attorney general's office is awarding grant money funded by settlements from mortgage companies to a foreclosure help hotline.
John Suthers announced Tuesday that his office awarded the Colorado Foreclosure Hotline $600,000. The free service offers homeowners counseling on avoiding foreclosure.
The grant money comes from fines and penalties the attorney general received from settlements with Countrywide Financial Corp. and Wells Fargo over allegations of mortgage fraud. The use of the settlement funds is directed by court orders.
Of the total, $500,000 is paid directly by Countrywide to the Colorado Division of Housing to help support the hotline's outreach efforts.
Since it began in 2006, the hotline has helped more than 25,000 Coloradoans avoid foreclosing on their homes. The grant starts in July.
Link: Colorado Foreclosure Hotline
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