In a Washington Post opinion piece, COG Board Chair Frank Principi and Nonprofit Roundtable President Chuck Bean urge Virginia state lawmakers to dedicate funding from the recent National Foreclosure Settlement to foreclosure prevention programs. The D.C. region will receive a combined $136.7 million from the settlement.
District and Maryland officials have indicated that they will use the money primarily on foreclosure prevention counseling and other related issues. In Virginia, state lawmakers were considering shifting its share of settlement dollars to programs that aren’t related to housing.
COG and the Nonprofit Roundtable are co-sponsors of the Capital Area Foreclosure Network, which supports and brings together organizations that help homeowners at risk of foreclosure.