Pro-Home receives $132K for foreclosure work

TAUNTON – Pro-Home Inc. has received a $132,853 grant that will allow it to continue its foreclosure prevention program, the organization announced last week.
The money comes from a settlement between Morgan Stanley and the commonwealth of Massachusetts. The money paid for grants awarded by the attorney general’s office.
“This is a significant grant for Pro-Home and the communities we serve,” said Executive Director and Raynham Selectman Joseph R. Pacheco. “These funds will allow us the opportunity to invest additional time and resources in homeowners who are in default or in danger of defaulting on their mortgage.”
Pacheco told Providence Business News that about $57,000 of the grant may be used as cash assistance to homeowners in danger of losing their homes. The money – which does not have to be repaid – is generally limited to $3,000 per household. Homeowners must meet income guidelines and be able to demonstrate that the money will let them keep their home for the long term.
Pro-Home can also use the money to help people who have lost their homes move.