Va., Countrywide deal funds to aid debt counseling
RICHMOND, Va. --Virginia families facing home foreclosure will be eligible for debt counseling funded in part by a legal settlement with Countrywide Financial Corp.
Attorney General Bill Mims' office said $50,000 is being set aside to supplement funds allocated by the Virginia Housing Development Authority and the Department of Housing and Community Development. VHDA will administer the grant program, which is expected to help about 200 families.
The $50,000 is part of the January settlement with Countrywide, which addressed alleged deceptive acts and practices related to the company's mortgage activities in Virginia.
The company was bought by Charlotte, N.C.-based Bank of America Corp. in July 2008. 