HAC in the News Archives

Grant funds classes to help homeowners

Posted on Thu, Jan 07, 2010

HYANNIS — The Hyannis-based Housing Assistance Corp . has received a $5,000 grant to help fund financial literacy education efforts.

The money, awarded by the office of state Attorney General Martha Coakley, is part of a $1.1 million grant program intended to support educational efforts that will help homeowners better understand budgeting, recognize predatory lending and avoid foreclosure.

The Housing Assistance Corp . will use its grant to implement a new curriculum addressing subjects like income and expenses, credit, financing options for home buying and the benefits of renting rather than buying.

"It's so people can identify up front, before they start down the home-buying pathway, whether they are ready for homeownership," said Nancy Davison, vice president of operations for the agency.

The grant money should allow the organization to offer its new program three or four times this year, Davison said. The first class is scheduled for March.

The grant money comes from a $10 million settlement between Coakley's office and Fremont Investment and Loan, stemming from charges that the California-based lender engaged in unfair and deceptive lending practices.