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MaineStream Finance Receives $29,000 to Support Foreclosure Prevention Counseling Efforts

Grant provides much-needed boost to Maine homeowners in danger of foreclosure.

April 8, 2014

Bangor, ME– Today MaineStream Finance announced that it has received $29,000 from NeighborWorks America to support foreclosure prevention counseling efforts. The much-needed funding will enable MaineStream Finance to provide more foreclosure counseling to area homeowners in danger of foreclosure.

 “At a time when foreclosures continue to affect many Maine families and unemployment rates remain high, the need for this type of funding is critical,” said Jayne Crosby Giles, CEO of MaineStream Finance. “Maine has a high rate of homeownership but keeping a home is another story.”

While the pace of home foreclosure has lessened nationally, many homeowners in Maine continue to face serious mortgage payment issues. According to the 2014 release of the Assets and Opportunity Scorecard, Maine ranks 48thout of 50 in the country for high foreclosure rates. Many homeowners are cost burdened with home repairs and high energy costs. MaineStream Finance is committed to helping homeowners work with their lender to keep their homes and prevent foreclosure. In the past year MaineStream Finance has worked with over 400 homeowners.

For more information about the grant and how it will impact MaineStream Finance’s foreclosure prevention efforts, please contact Jayne Crosby Giles at 973-3500.

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