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Nonprofits Receive Foreclosure Prevention Funding

Eight nonprofit organizations in San Mateo and Santa Clara County received $455,000 total in grants from the Silicon Valley Community Foundation to assist residents facing foreclosure.

Over 1,400 people involved in foreclosures are slated to receive housing counseling and legal services due to recent grants totaling $455,000 from the Silicon Valley Community Foundation.

Although the number of foreclosures in the Bay Area has declined in recent months, many residents in both San Mateo and Santa Clara Counties still face foreclosure and often struggle to navigate through the federal and state assistance programs that are available.

“The foreclosure crisis is far from over,” said Pat Krackov, the community foundation program officer who oversees grants to strengthen economic security. “With new foreclosure relief programs from the state and federal governments, homeowners will need to understand whether they qualify and what options they have.”

The grant recipients were selected by way of a competitive request for proposals, according to Rebecca Salner, Vice President of Marketing and Communications for the Silicon Valley Community Foundation.

“Nonprofits that worked within the area were invited to apply and vetted by grant making staff,” said Salner.

Many Peninsula nonprofits intend to make tangible change with the funding they receive.

The Legal Aid Society of San Mateo County in Redwood City will be using $63,000 to finance legal defense to occupants of foreclosured residential properties who are facing eviction.

Community Legal Services in East Palo Alto will use the funds for prevention efforts against deceptive lending practices in low-income communities.

“We’re entirely grant funded,” said Rebecca Pinger, a staff attorney for Community Legal Services. “This funding helps us get out into the community.”

A complete list of grant recipients can be found here: http://www.siliconvalleycf.org/content/foreclosure-prevention-grantees-2012

 

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